STAMP PAPER
RAJESH CHOPRA
(Querist) 28 October 2010
This query is : Resolved
I would like to know what diffrence would it make in the eyes of law if the indemnity for loss of demand draft is not given on stamp papaer and instead given on plain paper.
R.Ramachandran
(Expert) 29 October 2010
Dear Mr. Rajesh,
Indemnity bond is taken for a purpose. The purpose is in case of any necessity the same should be invoked and the recovery should be effected against the person granting the indemnity bond.
It will be possible to file a case on the basis of the indemnity bond only if the bond is duly stamped in terms of Indian Stamp Act.
An instrument, which is required to be stamped, if not stamped cannot be admitted as an evidence.
THUS, STAMPING AND NON-STAMPING of any instrument, including the Indemnity Bond does make a great difference.
Surrender K Singal
(Expert) 29 October 2010
Can the non-stamping be not regularised by paying 11 times the stamp-value as per applicable Stamp Act / Rulles but how can the contents of such document be not useful for its purpose ?
