Muralidharan (Self Employed) 31 December 2008
A company is availing factoring / bill discounting facility from GTF Limited, Mumbai. The Company has executed a "Deed of Assignment of Receivables". The value of factoring facility is Rs.7.20 crores. GTF is asking the company to stamp the "Deed of Assignment".
Please inform for how much value the "Deed of Assignment" is to be stamped and what type of stamp has to be affixed in the same.
Please treat this as urgent and help me.
Muralidharan
AEJAZ AHMED (Legal Consultant/Lawyer) 31 December 2008
DEAR MURLIDHARAN,
You can find answer of the question on Page No: 8 in Para No: 9.3 of the atached file.
sanjeev murthy desai (Advocate) 31 December 2008
Mr. Muralidharan,
Bombay Stamp Act- 1958- Schedule -I Instrument of assignment of receivables in respect of use of credit cards, for every five five hundred rupees or part thereof Two rupees and fifty paise
ASSIGNMENT, See Conveyance (Article 25),
.
(i) Instrument of Securitisation of loans or of
assignment of debt with underlying securities, for
every five hundred rupees or part thereof , of the loan
securtised or debt assigned with underlying securities -
Fifty paise subject to a maximum
of rupees one lakh.
RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA) 31 December 2008
I do agree with my both Ld. Friends.
Muralidharan (Self Employed) 01 January 2009
Thanks for your kind information. It was very much helpful
Muralidharan
M. Sahul Hameed (Advocate Profession) 03 January 2009
i do agree with the above Learned friends comments
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