(iii) bonds issued by such a company which do not create, declare, assign, restrict or remove any right, title or interest in or to immovable property, unless they give entitlement to the security provided by a registered deed by which the company is granting all or part of its immovable property in trust for the benefit of the holders of such bonds; has transferred or otherwise transferred; or under the Indian Registration Act, the sales agreement is not necessarily registrable. However, if the document stated that “whenever desired, a regular registered deed of sale will be executed in favour of the Vendée or its nominee”, it was determined that the document was a contract of sale, since it did not constitute a transfer to be eligible for registration under the Registration Act. 1981. Legislative Summary 265(276) (AP). The Contracts Act does not make it mandatory to stamp agreements, nor does it consider an unstamped agreement or contract to be invalid and unenforceable. The agreements therefore do not require mandatory stamping to be considered legal and valid. Even if they are not stamped, they are still enforceable against the parties who signed them. A referral to this secretariat by the Lahore High Court proposes an amendment to the Registration Act 1908 to make the “contract of sale” mandatory. According to the High Court, there is a growing tendency to forge an agreement on the sale and use it to support a false cause of action in court regarding interest in real estate. As a result, frivolous litigation is on the rise.
To eliminate the threat, the Registration Act of 1908 proposed appropriate amendments to require the mandatory registration of contracts of sale. The Indian Registration Act provides for the registration of documents, thereby recording the contents of the document. .