Dear all,
A deed of assignment assigning debts of a Bank to an Asset Reconstruction Company is executed in Bombay but Stamped in Bangalore where one of the secured asset was located. Is the said Deed of assignment properly charged or should it have been mandatorily Stamped in Bombay ?
Now the said ARC has moved to DRT Delhi (as the parties has thier registered office located in Delhi) to recover the said debt. Can a plea be taken that as the deed is not stamped in Bomabay i.e. where it is executed, hence the said deed of assignment can not create a right in favor of the Assignee ?
Kindly explain the point of law in matters of stamping of securitzing instruments.
Regards,
Sagnik Sanyal
