Sunil Prabhudas Patel & Ors. v. RBL Bank Ltd.

…Appellant

RBL Bank Ltd.

…Respondent

Case No: Appeal No. 41/2023

Date of Judgement: 16/08/2023

Judges:

Mr Justice Ashok Menon, Chairperson

For Appellant: Mr Sandeep C. Bhatt, Advocate.

For Respondent: Mr Rajesh Nagory, i/b Mr Meghnath Navlani, Advocate.

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Facts:

Arguments by the Parties:

Arguments by the Respondent Bank (Applicant):

The issuance of the Sale Certificate was prior to the deposit of the first instalment of the mandatory pre-deposit on 21/04/2023 by the Appellants. The registration of the Sale Certificate is merely a formality/compliance as per the provisions of the Registration Act, 1908, in furtherance of the successful completion of the sale of the property conducted on 07/03/2023. The registration is to be completed within four months of the issuance of the Sale Certificate.

Arguments by the Appellants:

Cases Cited:

Esjaypee Impex Pvt. Ltd. Asst. General Manager and Authorised Officer, Canara Bank (2021) 11 SCC 537

Sections and Laws Referred:

Section 17(2)(xii) of the Registration Act, 1908

Section 89(4) of the Registration Act, 1908

In summary, the Debts Recovery Appellate Tribunal allowed the application filed by the Respondent Bank, permitting the Authorized Officer to forward a copy of the Sale Certificate issued to the auction purchaser to the registering authority, to be filed in Book I as per Section 89 of the Registration Act, 1908. The Tribunal held that this act would not violate the previous order restraining the Bank from taking further SARFAESI measures against the Appellants (borrowers).