Section 8 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002
8. Exemption from registration of security receipt.
- Notwithstanding anything contained in sub-section (1) of section 17 of the Registration Act, 1908 (16 of 1908),(a)any security receipt issued by the [asset reconstruction company] [Substituted by Act No. 44 of 2016.] as the case may be, under sub-section (1) of section 7, and not creating, declaring assigning, limiting or extinguishing any right, title or interest, to or in immovable property except insofar as it entitles the holder of the security receipt to an undivided interest afforded by a registered instrument; or(b)any transfer of security receipts,shall not require compulsory registration.
