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Sale deed which is neither registered nor stamped and was executed before Notary cannot be basis for any claim with regard to the purchase of immovable property-NCLAT

  • Post Author:admin
  • Post published:September 14, 2022

Smt. Sabita A. Biswas vs Shri Vinodkumar Pukhraj Ambavat

Company Appeal (AT) (Insolvency) No. 1056 of 2022

Facts:

1.Appeal against the Order dated 07.07.2022 passed by the National Company Law Tribunal, Cuttack Bench in I.A. No. 278/CB/2020 filed by the Appellant

2.Appellant sought direction to Resolution Professional to accept the claim. Appellant has filed claim in Form-C along with the claim, Appellant has also filed photocopy of unregistered sale deed engrossed on Rs. 100/- and stamp paper allegedly executed before the Notary on 13.01.2015.

Issue: Whether sale deed which is not registered nor stamped can be looked for claim purpose?

Decision: NCLAT upholding the decision of Adjudicating Authority noted that it has rightly taken such kind of sale deed which is neither registered nor stamped and was executed before Notary cannot be basis for any claim with regard to the purchase of immovable property as claimed by the Appellant.

Order Copy:

Company-Appeal-AT-Insolvency-No.-1056-of-2022Download

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Previous PostInsolvency Professionals are advised to inform IBBI without any delay about any important issues relating to vires, interpretation and applicability of the provisions of the Code, Rules and Regulations made thereunder are being contested before the High Courts and the Supreme Court of India, in respect of any assignment handled by them as on date-IBBI circular IBBI/PROS/53/2022 dated 13.09.2022
Next PostMoratorium/Bar under section 33(5) of the Insolvency and Bankruptcy Code does not apply to pending suit- Delhi HC
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