E-stamp paper
Eswar Rao K
(Querist) 15 June 2018
This query is : Resolved
We have purchase estamp paper for Deed of Hypothecation. E-stamp paper amount is 2 lakh. estamp paper purchased for executing loan documents. Total loan amount is 10 cr, however in that there is different sub category of loan. Both bank and party is same.
As advised by bank, estamp paper was supposed to purchase as per sub catgory of loan ( 1 for loan amount of 5 cr, 2 for loan amount of 2 cr, 3 for loan amount of 1.80 cr and 4 for loan amount of 20 lakh). However we have taken estamp paper for total amount of 10 cr. Bank and all these loan customer name, date and place of execution is same.
Please advise,
Is there any process at SHCIL to take breakup of estamp paper ?
if not, can we execute one e-stamp paper for the total loan amount. Since the bank and customer name is same.
Thanks
Eswar
kavksatyanarayana
(Expert) 15 June 2018
If you mention all these amounts in One Hypothecation deed then there is no problem. If you with Bank authorities executed 4 deeds for the said 4 amounts, you have liable to pay stamp duty separately. if you purchase huge amount paper it will only for one document. so execute mention the total amount in the deed under separate payments.
Guest
(Expert) 16 June 2018
What is the nature of property meant for hypothecation?
Guest
(Expert) 16 June 2018
What is the nature of property meant for hypothecation?
Guest
(Expert) 16 June 2018
What is the nature of property meant for hypothecation?
Guest
(Expert) 16 June 2018
What is the nature of property meant for hypothecation?
Dr J C Vashista
(Expert) 17 June 2018
Some vital information is missing from the facts.
You had purchased e-stamp paper worth rs. 2 lakh for hypothecation of the property valuing at 10 cr.? Stamp duty is a state subject, consult a local lawyer.
Guest
(Expert) 17 June 2018
Logic of agreeing time and again with one expert's single opinion is not understood?
Guest
(Expert) 17 June 2018
Logic of agreeing time and again with one expert's single opinion is not understood?
Dr J C Vashista
(Expert) 17 June 2018
The experts (respondents) on this platform rely on limited information provided (posted) by you, which are insufficient to form an opinion.
When you are spending lakhs of rupees for stamp paper(s) etc.etc. why don't you hire the service of a local prudent lawyer for your own benefit?
Guest
(Expert) 17 June 2018
Logic of agreeing time and again with one expert's single opinion is not understood?
Guest
(Expert) 17 June 2018
Dear Dr. JC Vashista,
Seemingly hypothetical queries do not have any background. The querist has not yet clarified on my question about the nature of property. Moreover, the question why the bank has desired 4 stamp papers for a single property was required to be asked by the querist from the bank, not from the experts, who are not supposed to know the background of the case, even if some problem really exists.
Guest
(Expert) 17 June 2018
Dear Dr. JC Vashista,
Seemingly hypothetical queries do not have any background. The querist has not yet clarified on my question about the nature of property. Moreover, the question why the bank has desired 4 stamp papers for a single property was required to be asked by the querist from the bank, not from the experts, who are not supposed to know the background of the case, even if some problem really exists.
Guest
(Expert) 17 June 2018
Sorry, repetition appears on account of 'ASP 500 error' of the software on the page.
Surrender K Singal
(Expert) 17 June 2018
(a) Better ask SHCIL for the whole querry ! (b) Ask the Bank who initially advised to take estamp of Rs. 2 Lakhs !
Otherwise, file a refund claim for the estamp (within 6 months) and obtain 4 separate e-stamps afresh;
Jai Shree Ram !
