(Querist) 15 September 2009
But i was told by my lawyer friend that the there is an GO w.e.f 2005 , which says that any equitable mortgage is valid only after it is registered on a Rs5000/ stamp paper. And one of the bank has followed the same procedure of registration for approving loan to one of my friend ?
so what is the GO about then ? riven
(Expert) 15 September 2009
SOME STATE GOVERNMENTS ARE ISSUING GOS TO INCREASE THE REVENUE OF STAMPS®ISTRATION DEPT, IT CANNOT INFLUENCE THE EFFICACY OF THE SARFAESI. ALL ABOVE MY FRIENDS ARE CORRECT..riven