pawan (director) 22 September 2014

Award execution

ARBITRATOR APPOINTED BY HIGH COURT HAS PASSED AN AWARD AGAINST BUILDER COMPANAY

" TO EXECUTE SALE DEED, TO PROCURE STAMP PAPER , TO PAY FOR REGISTRATION ETC FOR WHICH MONEY HAS ALREADY PAID TO THEM 10 YEARS BACK"

AND ALSO TO PAY LEGAL EXPENSES AND MENTAL HARRASMENT CHARGES FOR RUPEES 80 THOUSAND EACH"

My question

1) Due to increase in circle rate stamp duty,resgistration charges have increased many time.Will builder buy the stamp paper at current value rates or on 10 year back rates when possesion was given.

2) What step we should take to safe guard ourselves as the stamp duty amount have increased 10 times i.e curently 18 lac stamp on present govt circle rate

3) Where builder can file application to challenge this award high court / district court.

4) Can we file caveat in district court

Your valuable sincere advice can save my family from builder (Sharks)

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1 Replies

ROHIT SHARMA (Legal Advisor ) 22 September 2014

Dear Mr. Pawan,

1. The Arbitrator order needs to be executed through a civil court u/s 36 of the Arbitration Act, 1996.

2. The sale deed cannot be made pre-dated in any case and hence the difference between the erstwhile and the current prevailing circle stamp duty and registration charges will need to be paid by the builder as by directed in the arbitral order. You can rescue yourself from paying excess current stamp duty and registration charges and are liable only for the cost of such stamp duty and registration charges which you would have normally incurred when at the time if the sale deed had been done ten years ago.

3. The builder can resort to setting aside the arbitral award u/s 34 of the Act, 1996 provided that application for such purpose is made within three months from the date arbitral order as provided u/s 34(3) of the Act, 1996.

4. You can file caveat both in District Court as well as in the H.C.