Agreement to sell does not create title; specific performance is the proper remedy for registration of immovable property.

A mere agreement to sell immovable property does not, by itself, create any interest or charge in the property under Section 54 of the Transfer of Property Act, 1882. On the facts, the relief was sought only on the basis of an agreement to sell and not on any completed conveyance or other enforceable transfer. The fact that the property appeared in the corporate debtor's records or resolution plan did not authorise compulsion of registration in its favour. Any remedy, if available, lay in a suit for specific performance before the competent court, and the request to direct execution and registration of the sale deed was rejected.

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Issues: Whether a mere agreement to sell immovable property entitled the Resolution Professional to obtain a direction compelling the Sub-Registrar to execute and register a sale deed in favour of the corporate debtor.

Analysis: A contract for sale under Section 54 of the Transfer of Property Act, 1882 is only an agreement that a sale shall take place on settled terms and, by itself, does not create any interest in or charge on the property. On the facts, the request rested only on the agreement dated 16.12.2016 and not on any completed conveyance or comparable enforceable transfer. The property being shown in the corporate debtor's records or resolution plan did not, by itself, authorise the Tribunal to compel registration of title in the debtor's favour. The proper remedy, if any, lay in seeking specific performance before the competent court.

Conclusion: The request for a direction to execute and register the sale deed was rejected and the application seeking that relief was dismissed.

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