CHENNAI: The President has approved the amendment to cancel the fraudulent bonds, but when will it come into effect?
In Tamil Nadu, the registration department has laid down various mechanisms to prevent fraudulent deed registration in the offices of the sub-registrar. However, with the help of sir-registrars, fraudulent deed registration continues in many places.
If a person’s property was seized by fraudulent deed, the Registry refused to cancel the deed. Even if criminal action is taken by the police, people are tricked into asking for a copyright court order.
To put an end to this problem, a bill to amend certain sections of the Securities Act was passed in the Assembly in 2021. The amendment was recently approved by the President.
But as to when this new amendment will come into force, the head of the registration department should issue an order. Also, as per the new law amendment, there should be instructions on how the sub-registrars and district registrars should act.
According to the officials of the registration department, a new decree should be issued regarding the effective date of the amendment. Action for this will be taken soon,’ he said.
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