Stamp paper validity
BALAJI
(Querist) 18 October 2012
This query is : Resolved
OUR COMPANY HAS ENTERED INTO A LEASE WITH FOREST DEPARTMENT. WHEN FOUND THAT THE NAME IS OF THIRD PARTY IN THE STAMP PAPER. THE LEASE IS ALSO REGISTERED. FOREST OFFICIALS ARE NOT EXECUTING RECTIFICATION DEED. WHAT IS THE WAY OUR.
1. HOW TO RECTIFY THE STAMP PAPER WHICH IS BOUGHT IN THIRD PARTY NAME.
2. CAN THAT BE RECTIFIED. THE LEASE WAS REGISTERED A YEAR BACK.
3. IS THERE ANY JUDGEMENT TO THAT EFFECT THAT THE NAME WAS IN ADVERTANTLY MENTIONED IN THE STAMP PAPER. CAN I MAKE THE LEASE VALID.
Can the stamp paper improperly named be valid under section 37 of indian stamp act
Admission improperly stamped instruments The 2[State Government] may make rules providing that, where an instrument bears a
stamp of sufficient amount but of improper description, it may, on payment of the duty with which the same is chargeable, be certified to be duly stamped and any instrument so certified shall then be deemed to have been duly stamped as from the date of its execution.
1Substituted for the word “Crown” by the Adaptation of Laws Order, 1950.
2Substituted for the words “Collecting Government” by the Adaptation of Laws Order, 1950, First Schedule.
RGDS
ajay sethi
(Expert) 18 October 2012
From 01/05/1994 stamp papers are to be purchased in the name of one of the parties to the instrument/document. If the stamp paper is not in the name of the parties and it is used for preparing the agreement it will be treated as if no stamp paper is used.
Rajeev Kumar
(Expert) 18 October 2012
Yes Sethi has well guided you and there is no need to add further
Sri Vijayan.A
(Expert) 18 October 2012
1.Why do you want to rectify it now, when it is registered one? (Do any body challenge it?)
2.It can't be rectified by Registration official.
3.The lease is valid.
Though the deed may be treated as unstamped, if any dispute arises, it can be admissible in court u/s.35a of Stamp Act.
So, dont worry. It is a valid document. The Sub-Registrar might have noticed it before registration.
Guest
(Expert) 19 October 2012
Dear Balaji,
Thanks for your private message. I have already replied seeking some clarifications. However the extract of my reply/ queries are reproduced below also:
"For your information, judgments on the topic of any issue, are not applicable commonly and universally on all types of cases unless circumstances match with each other. However, please clarify the following points:
1) Lease for what purpose?
2) Circumstances under which the stamp paper was purchased in third party's name?
3) How the question arose about the lease to be on the stamp paper of third party?
4) What is the objection, if any, to the forest department, if the lease is registered on a stamp paper bearing the name of the third party?
5) What type of loss you are expecting for your company, if no rectification deed is made?
6) Has any court case arisen out of that, whether from the side of the forest department or any third party, and if so, what is the main issue of litigation about the stamp paper or the lease?"
BALAJI
(Querist) 19 October 2012
Can the stamp paper improperly named be valid under section 37 of indian stamp act
Admission improperly stamped instruments The 2[State Government] may make rules providing that, where an instrument bears a
stamp of sufficient amount but of improper description, it may, on payment of the duty with which the same is chargeable, be certified to be duly stamped and any instrument so certified shall then be deemed to have been duly stamped as from the date of its execution.
1Substituted for the word “Crown” by the Adaptation of Laws Order, 1950.
2Substituted for the words “Collecting Government” by the Adaptation of Laws Order, 1950, First Schedule.
Guest
(Expert) 19 October 2012
Supplementary query already replied through PM.
shivam......
(Expert) 20 October 2012
Agree with Mr Ajay Sethi...
