No security interest created in absence of any registered sale deed

V. Jaisankar Vs Mahalingam Suresh Kumar (NCLAT Chennai)

NCLAT Chennai held that there would be no Security Interest which could be said to have been created in absence of there being any Registered Sale Deed. Thus, by not registering the MoDT, retention of title deeds of property of Corporate Debtor not justifiable.

Facts- The Appellant, in the instant Company Appeal has questioned the validity of the common Order dated 27.09.2024, by virtue of which NCLT, Chennai had proceeded to decide the three Interlocutory Applications IA(IBC)/415/2024, IA(IBC)/1701/20

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