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ALLAHABAD HIGH COURT
T. Ramabhadran, R. S. Pathak, *C. S. P. Singh, JJ.
Somaiya Organics (India) Ltd. – Appellant
Versus
Godavari Sugar Mills Ltd. – Respondent
| Table of Content |
|---|
| 1. formation of a technical collaboration agreement. (Para 1 , 2 , 3) |
| 2. impoundment of documents under the stamp act. (Para 4 , 5) |
| 3. reframing questions related to stamp duty. (Para 6 , 8) |
| 4. applicability of s.4 of the stamp act. (Para 7) |
| 5. determination of sale consideration under the stamp act. (Para 9 , 10 , 12) |
| 6. consideration of equitable mortgage in duty assessment. (Para 11 , 13 , 14) |
| 7. interpretation of s.24 in context of contingent liabilities. (Para 15 , 16) |
| 8. final determination of stamp duty value should include rs.72,76,000. (Para 17 , 18) |
1. This is a reference under S.57 of the Indian Stamp Act made at the instance of Somaiya Organics (India) Ltd.
2. The Godavari Sugar Mills Ltd. (which for convenience, will be referred to as 'the Godavari Sugar Mills') entered into a technical collaboration agreement with Messrs. Melle Besons, and it is said that in this connection pursuant to the resolution of its Board of Directors passed on October 23, 1964, the Godavari Sugar Mills obtained a deferred payment guarantee upto the limit of Rs.65,00,000/- from the Punjab National Bank Ltd. in favour of Messrs. Speichim Paris, on an equitable mortgage by deposit of ti
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