Registration Act, 1908 (16 of 1908), Section 17 -- Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), Section 13(2)(4)(8) -- Security Interest Enforcement Rules, 2002, Rule 9(6) -- Auction under SARFAESI law – Registration of Sale Certificate – Market Value -- Registration Authorities cannot insist on payment of stamp duty and registration fee basing on the value of the property as indicated in the market value register -- Sub-registrar has no other option, but to register the sale certificates by fixing the stamp duty based on the successful bid price which is fetched in the auction, as the same reflects the true market value as per the settled law.

(Para 9)