Refusal to register the sale certificate issued under the SARFAESI Act on the ground that there is an attachment order passed by the civil court - Not Proper.

Citation 

2024-3-L.W. 857

IN THE HIGH COURT OF JUDICATURE AT MADRAS

03.07.2024/ W.A.No.3037 of 2023 and C.M.P.No.25171 of 2023

R.Subramanian, J., and R.Sakthivel, J.

Indian Bank Branch Chinniampalayam 1/202, Avinashi Road, Chinniampalayam, Coimbatore 641062 ...Appellant

Vs.

1.The Sub-Registrar, Singanallur Sub Registrar Office, 14/48, Vellalore, Coimbatore 641016.

2.P.Thirugnanam ...Respondents 

Prayer: Writ Appeal filed under Clause 15 of Letters Patent, to set aside the order dated 15.09.2023 passed in W.P.No.10594 of 2023.

Registration act, Section 22-B, effect of attachment

Securitization and reconstruction of financial assets and enforcement of security interest (SARFAESI) Act (2002), Section 26E, effect of attachment

Refusal to register the sale certificate issued under the SARFAESI Act on the ground that there is an attachment order passed by the civil court prohibition contained under section 22-B cannot be invoked in respect of an involuntary transfer namely the sale under the SARFAESI Act

para 6

 

Overruled

 

W.P.No.10594 of 2023 Dated 15.09.2023

 

Indian Bank,Chinniyampalayam Branch vs The Sub Registrar Singanallur and others