Section 33A of Maharashtra stamp Act

Manoj Gaud (Querist) 14 April 2016 This query is : Resolved
Hi, i had taken a loan from X bank where bank had done a registered equitable mortgage, now after 3 years I got a letter from SRO stating that the stamp duty paid was insufficient a day post my reply to them, they again sent that document has been impounded u/s 33A.
Just wanted to know the consequences of this order, is there any further action which will take by SRO post this order.

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Rajendra K Goyal (Expert) 14 April 2016
Whether the property was mortgaged by registered mortgage or equitable mortgage. Both have different process.

The situation may be regularized by payment of penalty fixed by the department.

Manoj Gaud (Querist) 15 April 2016
It was equitable mortgage where. i.e mortgage by deposit of title deed however the instrument recording the mortgage was registered with sub registrar, bank had confirmed that they have done a registered equitable mortgage.
My concern is that, is there any further action which will be taken by revenue department against me after sending the order u/s 33A of Bombay stamp Act, and impounding the document.
Their demand is 0.5% against the duty paid @0.2%. kindly suggest.

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