Memorandum of title deed deposit

ravi teja thota (Querist) 24 August 2016 This query is : Resolved
Dear all. Our company has been sanctioned a CC loan of 3.5 Crores earlier and we have given 3 properties as collateral securities and deposited title deeds with them. Now we have been sanctioned an additional loan of 25 lakhs for which we are giving 2 additional properties as additional security to secure the additional loan amount. Now my question is on what amount i have to pay challan fees for registering MOTD i.e whether on 3.75 crores (3.5 crores + 0.25 lakhs) or for just additional amount of 25Lakhs.

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kavksatyanarayana (Expert) 24 August 2016
it will be decided as per recitals mentioned in the document of deposit of title deed. normally you have to pay stamp duty on 3.75 crores.

Rajendra K Goyal (Expert) 25 August 2016
Banks prefer to get fresh documents for full amount after additional sanction. The additional security would also cover / applicable to previous loan also.

Raj Kumar Makkad (Expert) 29 August 2016
As already you have paid challan fee against the existing loan amount and only additional collateral security is to be given so question don't arise to pay challan fee against the entire loan amount. You are liable to pay only against Rs. 25 lakh.