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Ratification of contract

(Querist) 31 December 2012 This query is : Resolved 
Dear All,

Company has entered into contract with civil advisor for the construction of the new building and both parties has acted as per the terms and conditions o the contract . However parties did not executed this contract on the stamp paper.

Contract is in the last stage of completion. Audit observation reveled the necessaity for the execution of contract on the stamp paper .

It is impossible to get back dated stamp paper on parties name. How can company deal with the audit observation.

What is the remedy left to the Company to get the things regularised.
ajay sethi (Expert) 31 December 2012
compnay should submit document for adjudication to the collector . get document stamped now
Gargi Ranade (Querist) 31 December 2012

Dear All,

Thanks a lot for your suggestion. One of the Management person is of the opinion that Company should enter into fresh MOU for ratification of previous contract.

Is it a valid solution? will it serve the purpose and have any legal sanctity?
ajay sethi (Expert) 31 December 2012
not necessary .pay penalty and get document stamped after adjudication
Raj Kumar Makkad (Expert) 31 December 2012
I stand with the management person who has advised to execute fresh MOU on Stamp paper in which previous contract terms may be got ratified. This shall be the best option.
Gargi Ranade (Querist) 02 January 2013
Dear Sir,

Thanks a lot for reply.
Raj Kumar Makkad (Expert) 02 January 2013
Most welcome Gargi.


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