Hi,
We aware that Special Adhesive Stamps can be used as alternative in case of non- availability of Non-Judicial stamps. Also, known that most of the Financial intuitions / Banks make use these spl adhesive stamps. However, can anyone let me know the detailed procedure to buy the spl adhesive stamps?
Pls advise to the below questionnaires in more detail:
1) Can any individual person approach the District Treasury / Sub-Treasury directly and get the same? Or else, only Financial Intuitions / Banks / Companies/ NRI’s should approach and get it? And, who are the most frequent users of these kinds of stamps?
2) I heard that some applications to be filled by the Financial intuitions / Banks / Companies in the form of deed, skeleton forms, drafts on demand or bills of lading. Is it so…?! If so, what would be the format?
3) If anyone buys the Spl Adhesive Stamps and which they have not been used the same for a period of 6 months, are they eligible to claim any refund / reimbursement? If so, what is the timeframe to claim refund? Suppose, if we purchased the Spl Adhesive Stamps and have not been used for a period of 6 months, can we claim refund after a year or two? Else, we need to claim within 6 months?
4) Who is the authority whether RDO / District Collector / Sub-Registrar to approach & to claim refund?
5) Assume that a borrower approaches a Financial Institution to avail a business loan by mortgaging his properties. And, the Lender (Financial Institution) is not interested to mortgage the said property, instead, he asked the borrower to issue a Demand Draft (the amount to be incurred for Stamp Duty) in favor of his Financial Institution name before entering into an agreement between the parties to get the Special Adhesive Stamps. Also, he added that only Financial Institutions/Banks are authorized to avail the same but not by any individual / borrower. If doing so, are there any chances for the fraudulent by the Lender / Financial Institution, here? And, how to make this financial transaction safer and secured? Can we draft any legal document / agreement here? Is this a good business practice?!
6) Else, Can the borrower himself go and get the Spl Adhesive Stamps in favor of his company’s name, directly? Usually, if any borrower mortgaging his properties to anyone / financial institutions and avails loan, only the borrower has to bare the registration cost and normally, the borrower would get the Non-Judicial stamps according to the Stamp Duty and register it. And, this is the normal procedure, isn’t it…?! But, don’t know why the Lender asks for DD in favor of his company’s name instead of Borrower’s company name.
7) And, what are the current Stamp Duty / Registration Fee in Tamil Nadu? Is it 4% or 2%? Is this Fee applicable irrespective of ALL Stamp papers (i.e.) the reg. fee of Non-Judicial Stamps and the reg. fee of Spl Adhesive Stamps are the same?
8) What would be the proof while purchasing these Spl Adhesive Stamps? Whether any Chelan’s / receipts will be issued or they written the Buyer’s Name anywhere in the Stamps? If the Spl Adhesive Stamps bought by the borrower can be claimed for refund by the lender and vice versa (i.e.) by opposite parties? Else, only the parties who availed these Spl Adhesive Stamps are eligible to avail the refunds? And, are there any chances for the Lender to get refund / sale the Stamps which are bought by the Borrower?
Kindly revert ASAP. Thanks in advance!
