The bank officer has to be present
Otherwise who will admit the signature on behalf of bank?
For the purpose of registration of Sale Certificate, is the presence of Recovery Officer (who issued Sale Certificate)/ or anyone from the bank is necessary? Can registrar register the property without insisting the presence of representative of bank in the office of registrar?
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1. Presence of bank officials who have taken the possession of property under SURFAESI act is necessary for registration of property auctioned under this act.
2. No registrar will not register the property without presence of both parties of transaction.
The bank is the seller hence the bank has to be represented by its authorised officer to execute the registered sale deed in favor of the buyer.
The buyer cannot execute the registered sale deed in his favor by himself.
For registration of property registrar would insist on presence of representative from registrar office
1. Though "Sale Certificate" under "Sarfaesi Act," is Final & Conclusive, the Recovery office (or authorized officer) MUST be present for registration of Sale Certificate, to prove that there is no further dispute or pending appeal proceedings against the property auction.
13 of SARFAESI and Rule 8 & 9 of Security Interest (Enforcement) Rules before conducting a valid sale. The bank will issue sale certificate in favour of the buyer and the defaulter have to confirm the same
NO, it will register on the basis of sale certificate issued by bank. Rest get it clarified from bank, who will represent the bank for registration of sale deed, in case required by Sub registrar.