S. ANANDA REDDY, J.

( 1 ) THIS referred case is at the instance of the petitioner - company referred by the Chief controlling Revenue Authority under section 57 of the Indian Stamp Act, 1899 (hereinafter referred to as the Act ). The following question is referred for the opinion of this Court:"whether the document under consideration styled as letter of subrogation and special power of attorney is a general power of attorney attracting a stamp duty of rs. 20/- or whether it is in addition an assignment of the benefit of a contract to be treated as Conveyance under article 20 of Schedule I-A of Indian stamp Act".

( 2 ) THE facts of the case are as follows: the petitioner-company approached the district Registrar, Visakhapatnam with a draft deed purporting to be a letter oi subrogation and special power of attorney for opinion under Section 31 of the Act. The district Registrar opined that the document was an assignment of the benefit of a contract to be treated as conveyance under article 20 of Schedule I-A of the Act and also the power of attorney under Art. 42 (c) of Schedule I-A, chargeable with higher duties. However, the District Registrar referred the matter under Section 5

Click Here to Read the rest of this document