https://www.taxtmi.com/caselaws?id=442688 A sale certificate issued under the SARFAESI enforcement process does not by itself displace existing encumbrances when the certificate expressly records them; the purchaser takes the asset subject to those encumbrances unless they are lawfully discharged through the prescribed statutory procedure. The note also states that the registering authority cannot be compelled to remove attachment entries or treat the certificate as free from encumbrances without compliance with the security interest enforcement rules and the registration framework. On that basis, the writ remedy was regarded as unavailable in the form sought because the statutory process had not been properly followed and the relief would bypass known encumbrances. en-us Tue, 05 Sep 2023 00:00:00 +0530 Fri, 08 Sep 2023 09:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442688 A sale certificate issued under the SARFAESI enforcement process does not by itself displace existing encumbrances when the certificate expressly records them; the purchaser takes the asset subject to those encumbrances unless they are lawfully discharged through the prescribed statutory procedure. The note also states that the registering authority cannot be compelled to remove attachment entries or treat the certificate as free from encumbrances without compliance with the security interest enforcement rules and the registration framework. On that basis, the writ remedy was regarded as unavailable in the form sought because the statutory process had not been properly followed and the relief would bypass known encumbrances. Case-Laws Companies Law Tue, 05 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442688