Amalgamation deed chargeability of stamp duty

SANGAMESWARA RAO DHUPAM (Querist) 12 February 2014 This query is : Resolved
Respected Sirs,
By Hon.High Court Orders of A.P. under section 391 to 394 of the Companies Act,1956 amalgamation was ordered by the Hon.High Court. Now the Transferor company transfers its Assets and properties to the Transferee company by means of an Amalgamation Deed. By the Amendment Act 19 of 2005(as applicable to Andhra Pradesh) all the said nature of deeds brought to the nature of ‘Conveyance’ Article 20 of Schedule I-A of Indian Stamp Act, 1899 was amended by inserting 20(d) as follows:
Description of Instrument Proper stamp duty
20.Conveyance as defined by section 2(10), not being a sale
Charged under (No.47-A) or a transfer charged or exempted
Under (No.53)
a)….
b)…
c)…
d)conveyance, so far as it relates to amalgamation or merger Two rupees for every one
of companies under the order High Court under Section hundred rupees or part thereof
394 of Companies Act, 1956.. of the market value of the
Property, which is the subject
Matter of such conveyance.

My doubt is that
1) if a Transferor company executing a deed transferring its Assets and properties in pursuance of the Hon.High Court Orders for Amalgamation under the Companies Act, 1956, whether such deed is chargeable to duty under the above Article 20(d)conveyance as or Conveyance on sale chargeable to duty under Article 47-A.
2) After the Orders of the Hon.High Court for amalgamation, is it necessary to bring a separate deed for transfer of the Assets from the Transferor Company to the Transferee Company or not?
3) If a deed is necessary what would be the Stamp Duty chargeable whether under Article 20(d)as Conveyance as stated above or under Article 47-A i.e., on the market value as Conveyance on sale?
With regards.

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