Possession of property not admissible based on unregistered sale agreement

Atul Paper Pvt. Ltd. Vs Rakesh Kumar Jain (NCLAT Delhi) NCLAT Delhi held that possession of unit by virtue of section 53A of the Transfer of Property Act is not admissible in case the agreement to sell is unregistered. Accordingly, sale consideration paid is directed to be refunded. Facts- The Appellant entered into an Agreement to Sell dated 24.04.2018 with the CD – RG Infra Build Pvt. Ltd. for sale of commercial unit for a total sale consideration of Rs.2.70 crores. Atul Paper Pvt. Ltd. paid an amount of Rs.2.01 crores towards sale consideration and possession of the unit was also handed o...