JUDGMENT

S.B. Sinha, J.—Interpretation and application of Sections 31, 32 and 56 of the Indian Stamp Act, 1899 (for short “the Act”), as amended by the State of Madhya Pradesh, and are applicable in the State of Chhattisgarh is in question in this appeal which arises out of a judgment and order dated 10.09.2003 passed by a learned Single Judge of the Chhatisgarh High Court in Writ Petition No. 2451 of 2003.

2. Appellant No. 1 herein is a public limited company incorporated under the Companies Act, 1956. It had its cement division in the State of Madhya Pradesh in the year 1982. It intended to sell the same in favour of one Lafarge India Ltd. on “slump-sale” basis. The State of Chhatisgarh was carved out of the State of Madhya Pradesh in November, 2000. With a view to pre-assess the stamp duty payable on the instrument of sale and the impact thereof, an application was filed by the appellants for adjudication of the Collector in terms of Section 31 of the Act which occurs in Chapter III thereof. A report of a chartered designated valuer was enclosed with the said application.

3. The Collector of Janjgir District, on receipt of the said application, formed a Valuation Committee compr