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Muralidharan (Self Employed)     31 December 2008

Value of Stamp Duty

A company is availing factoring / bill discounting facility from GTF Limited, Mumbai. The Company has executed a "Deed of Assignment of Receivables". The value of factoring facility is Rs.7.20 crores. GTF is asking the company to stamp the "Deed of Assignment".

Please inform for how much value the "Deed of Assignment" is to be stamped and what type of stamp has to be affixed in the same.

Please treat this as urgent and help me.

Muralidharan



Learning

 5 Replies

AEJAZ AHMED (Legal Consultant/Lawyer)     31 December 2008

DEAR MURLIDHARAN,


You can find answer of the question on Page No: 8 in Para No: 9.3 of the atached file. 


Attached File : 51 securitisation - 2007.pdf downloaded: 914 times

sanjeev murthy desai (Advocate)     31 December 2008

Mr. Muralidharan,


Bombay Stamp Act- 1958- Schedule -I

Instrument of assignment of receivables in


respect of use of credit cards, for every five five


hundred rupees or part thereof



Two rupees and fifty paise


 


 


ASSIGNMENT, See Conveyance (Article 25),



.



(i) Instrument of Securitisation of loans or of


assignment of debt with underlying securities, for


every five hundred rupees or part thereof , of the loan


securtised or debt assigned with underlying securities - 


Fifty paise subject to a maximum


of rupees one lakh.

RAKHI BUDHIRAJA ADVOCATE (LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA)     31 December 2008

I do agree with my both Ld. Friends.

Muralidharan (Self Employed)     01 January 2009

Thanks for your kind information. It was very much helpful


Muralidharan

M. Sahul Hameed (Advocate Profession)     03 January 2009

i do agree with the above Learned friends comments


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