Estamp

mohammad aslam (Querist) 24 December 2015 This query is : Resolved
Recently I bought Estamp in Bangalore for equitable mortgage by deposit of title deeds.
Instead of Art 6 it was issued under Art 34.with purpose Equitable Mortgage. Bank has taken correct papers For creation of equitable mortgage

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kavksatyanarayana (Expert) 24 December 2015
There is a format for deposit of title deed. for deposit of title deeds, the stamp duty is 0.5% on the amount secured. if the recital of the deed contain the conditions of mortgage, then only the stamp duty leviable under Art.34.

mohammad aslam (Querist) 24 December 2015
Please inform whether wrong article
Codes makes the.stamping invalid.
Instrument agreement is correctly obtained

Dr J C Vashista (Expert) 25 December 2015
The stamp paper is valid even if erronously mentioned wrong section/article code.

K.S.Srinivas (Expert) 30 December 2015
The stamp paper is valid. However, it is better to go for rectification deed.

T. Kalaiselvan, Advocate (Expert) 03 January 2016
If there is an error in the article mentioned in the estamp paper and needs a rectification, you may go for it.
A rectification deed on the same lines just rectifying the correct article number will suffice your issue.

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