In Brief
A company was wound up and its assets sold at court-ordered auction. The successful bidder sought a sale certificate but was asked to pay stamp duty on immovable properties. The High Court allowed a writ petition and held that stamp duty is not mandatory for issuance of a sale certificate. The Supreme Court upheld this, holding that title passes upon confirmation of the auction sale, and the certificate is merely evidence of title. Stamp duty attaches only if the purchaser later uses the certificate for registration or other purposes. The sale certificate need not be compulsorily registered; filing a copy with the registrar under the Registration Act is sufficient.
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