Auction of assets by the Bank - sale certificate issued with ...

Court Denies Bank's Request to Register Sale Certificate with Encumbrances u/r 9 of Security Interest Enforcement Rules.

September 8, 2023

Case Laws Companies Law HC

Auction of assets by the Bank - sale certificate issued with encumbrances - The petitioner Bank filed the present writ petition seeking a direction against the Sub-Registrar to register the sale certificate, but the sale certificate was issued by the Authorised Officer with known encumbrances. Thus, the sale certificate issued cannot be construed as free from encumbrances as contemplated under Rule 9 of the Security Interest Enforcement Rules - the sale certificate issued with encumbrances is non-registrable and the Registering Authority is not empowered to remove encumbrances at the request of the Bank. - HC

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Auction of assets by the Bank - sale certificate issued with ...

Court Denies Bank's Request to Register Sale Certificate with Encumbrances u/r 9 of Security Interest Enforcement Rules.

September 8, 2023

Case Laws Companies Law HC

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