Challenge on Sale Conducted by IOB Not Maintainable Based on Unregistered Sale Deed Which has No...

The DRAT (Debt Recovery Appellate Tribunal) has ruled that a challenge on a sale conducted by IOB (Indian Overseas Bank) is "not maintainable based on an unregistered sale deed which has no legal sanctity." This decision underscores the importance of proper legal documentation in property transactions and debt recovery. An unregistered sale deed lacks legal validity and cannot be used as a basis to challenge a legitimate sale conducted by a bank to recover dues. This ruling ensures that only legally recognized instruments can be used in challenging debt recovery actions.