Stamp Duty on Consortium Documents

Querist : Anonymous (Querist) 04 April 2017 This query is : Resolved
My company has entered into a Legal mortgage agreement with a Bank X and paid the required stamp duty for a certain set of properties. Further it also decided to enter into agreementation for the same set of properties with Bank Y and Z. Bank X is of the opinion to appoint a trustee and execute a Consortium document consisting of all 3 banks (Indenture of Mortgage) for this purpose. My question is that will stamp duty be payable again on the amount borrowed from bank X for which the Documentation is already done or do I just need to pay the stamp duty on the amount to be borrowed from Y and Z. Also can I get an adjudication done and get a relief or refer to any case laws.

Follow Query

Report Abuse