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Issues: Whether a sale certificate issued by the authorised officer of a bank under the SARFAESI regime is exempt from stamp duty and merely required to be filed in Book I, or whether it is chargeable with stamp duty under the Indian Stamp Act.
Analysis: The decisive question was whether the sale certificate could be equated with a certificate of sale issued by a Civil Court or Revenue Officer so as to attract the exemption under Article 18 of Schedule I of the Indian Stamp Act, 1899. The earlier authorities on Court sales and revenue sales established that a certificate of sale does not itself transfer title and that, where registration is not compulsory, the registering officer is only required to file the copy in Book I. But those decisions also recognised that the stamp law must be separately applied where the document is presented for registration or otherwise requires adjudication. The later decision relied upon by the Court clarified the distinction between filing and registration and held that a certificate issued by an authority other than a Civil or Revenue Court is not automatically covered by the Article 18 exemption. The Court therefore accepted that the nomenclature of the document is not decisive and that the exemption cannot be extended to a sale certificate issued by an authorised officer of a bank merely because the sale arose out of public auction under SARFAESI.
Conclusion: The sale certificate issued by the authorised officer was held chargeable with stamp duty and not entitled to the Article 18 exemption; the writ petition was dismissed.
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