DAMA SESHADRI NAIDU, J.

Introduction:

1. Individual property brought into a company, the company wants to settle the property on the Managing Director’s children. When the MD presented the settlement deeds presented for registration, the Sub Registrar impounded them, taking a stand that the instruments have been insufficiently stamped. Even the MD’s request to take the deeds back was not entertained.

2. Can the Sub Registrar impound the deeds of conveyance when they have not been pressed into service as completed documents, but presented only for registration?

Case in Brief:

3. Dr. Abdul Rasheed, also known as Dr. A.R. Babu, is the Managing Director of a company-M/s. Heera Summer Holiday Homes Private Ltd. His wife is the director. And the Company has no other stakeholder. Both brought into the Company their properties at Poovar Village, Thiruvananthapuram District.

4. Dr. Rasheed wanted to settle those properties on his three children. But he could not do it on his own; the company could. So the company, represented by its Managing Director, executed settlement deeds, dated 13.06.2016.

5. When those deeds of settlement were presented for registration, the Sub Registrar, the 4th