law: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
  8. Exemption from
  
  registration of security receipt.-Notwithstanding anything contained in
  
  sub-section (1) of section 17 of the Registration Act, 1908 (16 of 1908),- 
  a.     
  
    any
  
  security receipt issued by the securitisation company or reconstruction
  
  company, as the case may be, under sub-section (1) of section 7, and not
  
  creating, declaring, assigning, limiting or extinguishing any right, title or
  
  interest, to or in immovable property except in so far as it entitles the
  
  holder of the security receipt to an undivided interest afforded by a
  
  registered instrument; or
  b.    
  
    any
  
  transfer of security receipts, shall not require compulsory registration.