Exemption of IBC Sale Certificates from Stamp Duty and Compulsory Registration Requirements

Case
RAJARAM FOOD PRODUCTS INDIA LTD v. THE JOINT DISTRICT REGISTRAR AND COLLECTOR OF STAMPS NASHIK AND ORS (Bombay High Court, 14-07-2026)
Law
Registration Act, Maharashtra Stamp Act, Insolvency and Bankruptcy Code, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act.

Highlights of the Judgment:

  • Interpretation of Section 17(2)(xii) and Section 89(4) of the Registration Act regarding sale certificates.
  • Analysis of whether the Insolvency and Bankruptcy Code, 2016, constitutes a "recovery Act" under the Maharashtra Amendment.
  • Application of the principle that IBC is a revival mechanism rather than debt recovery legislation.
  • Determination of the "Civil Officer" status of a liquidator conducting auctions under NCLT orders.
  • Clarification on the distinction between filing in Book No. 1 and formal registration.
  • Examination of stamp duty liability under Article 16 of the Maharashtra Stamp Act.
  • Judicial reliance on precedents regarding the evidentiary value of auction sale certificates.