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K. M. JOSEPH, HRISHIKESH ROY
The Sub Registrar, Amudalavalasa – Appellant
Versus
Dankuni Steels Ltd. – Respondent
JUDGMENT :
K.M. JOSEPH, J.
1. Delay condoned. Leave granted.
2. By order dated 13.06.2002, the High Court of Andhra Pradesh ordered M/s. Midwest Iron & Steel company Ltd. (which is Respondent No.3 in the appeals) to be wound up. Though pursuant to order dated 22.09.2003, efforts were made to sell the property of respondent no.3 in three lots, finally, based on an auction for a consolidated sale, the second respondent herein, namely, M/s. SMC Marketing Private Ltd. who figured as the highest bidder, became the successful auction purchaser. It bid for the property which consisted of land, building, civil works, plant & machinery and current assets, etc. The amount for which the second respondent was declared the highest bidder was Rs.8.35 crores. On the basis of a direction given in C.A. No. 1203 of 2004 at the instance of the second respondent, the Official Liquidator was accorded permission by the learned Company Judge to execute the sale deed in favour of the first respondent in the appeals, viz, M/s. Dankuni Steel Ltd. A sale deed came to be executed by the Official Liquidator i
Agreement to sell – If instead of separate instruments, distinct matters are made subject matter of one instrument, liability to pay duty would be still found within four walls of Section 5 of Stamp ....
In Court-ordered sales, stamp duty applies only to the sale consideration, not to market value, as established by the Transfer of Property Act.
The court affirmed that all components of the sale, including outstanding mortgage obligations, must be considered for stamp duty valuation, adhering strictly to statutory definitions.
Unregistered agreement for sale with possession, stamped as conveyance under amnesty, is principal instrument under Section 4; subsequent registered sale deed is other instrument attracting fixed dut....
The court clarified that only sales conducted by the Company Court with proper publicity and without connections to the purchaser are protected under the Indian Stamp Act.
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