Stampiing in agreement

yuvnesh subramanian (Querist) 23 April 2012 This query is : Resolved
Dear Sir,

I have some query that,

Scenario.1. Agreement date prior to stamp paper or stamping date.

Scenario.2. Stamp paper purchased in the name other than the person executed it.

In this issue whether the documents executed with the above type valid or not ?
Along with the loan agreement, we hold title deed, plans, pattas etc with pronote and Security cheque with us-Whether can we have a hold on this case.

My fore most query is that, With this kind of defect in loan agreement can i defend the case for the financier with other documents except the loan agreement.

Is it the loan agreement is mandatory evidence.Please advice me.

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ajay sethi (Expert) 23 April 2012
stamp paper has to be in name of parties to the agreement . if in name of third party then you will face problems . as document will be regarded as one without any stamp paper

Such instruments are not admitted in evidence, for any purpose. These instruments are also treated as not properly stamped. These instruments are liable to be impounded and sent to the Collector of Stamps for recovery of proper stamp duty.

yes you can defend suit for financier if you have promissory note , title deeds of property succesfully

Raj Kumar Makkad (Expert) 23 April 2012
Your query has two parts. One is about the agreement held previously if executed on stamp paper is valid or not and my answer to this question is yes.

Your second question has very well been resolved by sethi and I concur his advice.