https://www.taxtmi.com/caselaws?id=423748 A liquidated asset sold under the Insolvency and Bankruptcy Code could not be subjected to refusal of registration on the basis of an alleged de facto attachment for earlier electricity arrears, because no insolvency claim had been lodged and the alleged encumbrance was not shown as a legal recordable charge. Registration of the sale deed was therefore directed. At the same time, a purchaser buying on an "as is where is, whatever there is" basis could not treat prior electricity dues as automatically extinguished; the principle of caveat emptor preserved the earlier liability attached to the property. en-us Wed, 01 Jun 2022 00:00:00 +0530 Tue, 14 Jun 2022 08:29:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423748 A liquidated asset sold under the Insolvency and Bankruptcy Code could not be subjected to refusal of registration on the basis of an alleged de facto attachment for earlier electricity arrears, because no insolvency claim had been lodged and the alleged encumbrance was not shown as a legal recordable charge. Registration of the sale deed was therefore directed. At the same time, a purchaser buying on an "as is where is, whatever there is" basis could not treat prior electricity dues as automatically extinguished; the principle of caveat emptor preserved the earlier liability attached to the property. Case-Laws Insolvency and Bankruptcy Wed, 01 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423748