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Issues: (i) Whether the appellant was entitled to further extension of time to comply with the Court's earlier direction to deposit the amount due for securing relief against the auction sale. (ii) Whether the authorised officer of the bank was required to send the duly validated sale certificate for registration and stamp duty, or only to hand over the validated certificate to the auction purchaser with a copy forwarded to the registering authority.
Issue (i): Whether the appellant was entitled to further extension of time to comply with the Court's earlier direction to deposit the amount due for securing relief against the auction sale.
Analysis: The appellant had repeatedly sought time to deposit the amount fixed by earlier orders, and the Court had expressly made the consequence of default clear. The last extension was granted on a peremptory basis, and the appellant still failed to deposit the amount within the extended time. In these circumstances, no further indulgence was found warranted.
Conclusion: The request for further extension was rejected, and the special leave petitions were liable to be dismissed.
Issue (ii): Whether the authorised officer of the bank was required to send the duly validated sale certificate for registration and stamp duty, or only to hand over the validated certificate to the auction purchaser with a copy forwarded to the registering authority.
Analysis: The Court read Section 17(2)(xii) together with Section 89(4) of the Registration Act, 1908 and held that the statutory mandate required the authorised officer under the SARFAESI regime to hand over the duly validated sale certificate to the auction purchaser and forward a copy to the registering authority for being filed in Book I. The Court rejected the broader requirement suggested on behalf of the bank.
Conclusion: The bank was bound to validate the sale certificate and hand it over to the auction purchaser, with a copy to the registering authority for filing as required by law.
Final Conclusion: The appellant obtained no further relief, while the auction purchaser's entitlement to a duly validated sale certificate was affirmed in accordance with the statutory scheme.
Ratio Decidendi: Under the Registration Act, a duly validated sale certificate in a SARFAESI sale is to be handed over to the auction purchaser with a copy forwarded to the registering authority for filing in Book I; no separate insistence on registration and stamp duty processing by the bank is required beyond that statutory mechanism.
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