Vivek (dir) 18 June 2014
Dear SIr,
Case : ABC Pvt Ltd. has given loan to another unrelated XYZ Pvt Ltd Co. for interest. In lieu thereof, XYZ Ltd. has given exclusive mortgage to ABC Ltd.
Query
a) Is Loan bad in law ?
b) Can mortgage deed be registered ?
If yes what is stamp duty to be paid ?
T. Kalaiselvan, Advocate (Advocate) 21 June 2014
It is not a bad loan, the mortgage deed can be registered, forstamp duty you have to clarify from the local registrar office.
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