Procedure to buy the special adhesive stamps? Advise needed!

Consultant

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 / purchase 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 in favor of his Financial Institution name and said that he would get the Special Adhesive Stamps by explaining some of the pro’s & con’s. 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?

 

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!

 
Reply   
 
Advocate

You should apply to the Sub-Treasury officer along with the the dociment and request the affixure of the special adhesive stamp on it.. If the requiste fee is remitted, the document would be returned after the affixure of the stamp on it.

 
Reply   
 


Consultant

Dear Mr. Isaac,

Thanks a lot for your reply.

You've mentioned that we have to submit the DOCUMENT to the Treasury / Sub-Treasury Officer and after remitting the requisite fee, the document would be returned after the affixture of the stamp on it.

Here, can you elaborate that what is the TYPE of document and what would be the TIMEFRAME to get all these done after submitting the doc. to the sub-treasury officer? Are they returned the document immediately or it would take some days...?!

Kindly clarify. Thanks again!!

 
Reply   
 
Consultant

Dear Mr. Isaac,

Thanks a lot for your reply.

You've mentioned that we have to submit the DOCUMENT to the Treasury / Sub-Treasury Officer and after remitting the requisite fee, the document would be returned after the affixture of the stamp on it.

Here, can you elaborate that what is the TYPE of document you’re talking about and what would be the TIMEFRAME to get all these done after submitting the doc. to the sub-treasury officer? Are they returned the document immediately or it would take some days / time...?!

Is that the document of ANY FORM (i.e.) form of deed, skeleton forms, demand drafts or bills of lading, etc...?!!

And, If that the document would be in the 'FORM OF DEED', are the BORROWERS & LENDERS would have to enter into an agreement and frame the deed before submitting the document to the Sub-Treasury Officer and get it stamped...?! What is the detailed Procedure?

Kindly clarify. Thanks again!!

 
Reply   
 
Advocate

Here, document refers to the form of deeds, skeleton forms which reqiures to be afixed special adhesive stamps before execution etc., The same will be returned on the same day or next day. You should enclose the same along with the application and the chakan for remitting the amount. The special adhesive stamp would be affixed and the seal of the treasury office would be affixed on it and would be returned.


Total likes : 1 times

 
Reply   
 
Consultant

Dear Sir,

Is there any chances of getting the refund after receiving the Spl Adhesive Stamps?

If so, what's the TIMEFRAME & What would be the procedure?

Suppose,  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?

 
Reply   
 

LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

Search Forum:








×

  LAWyersclubindia Menu