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HIGH COURT OF KERALA
T. R. Ravi, J
J.C. FLOWERS ASSET RECONSTRUCTION PVT. LTD – Appellant
Versus
STATE OF KERALA – Respondent
| Table of Content |
|---|
| 1. asset reconstruction agreements registered under sarfaesi act (Para 1 , 2) |
| 2. court observations on legislative competence and case precedents (Para 3 , 6) |
| 3. arguments on stamp duty and applicability of kerala stamp act (Para 4 , 5) |
| 4. exemption clauses in sarfaesi and indian stamp acts (Para 8 , 9 , 10 , 11) |
| 5. final verdict on registration fees and applicability of previous judgments (Para 13 , 19) |
JUDGMENT
The writ petitions have been filed by the Asset Reconstruction Company, having a certificate of registration under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'SARFAESI Act'), from the Reserve Bank of India (for short 'RBI'). Ext.P1 is the certificate of registration. The petitioner in W.P. (C)No.18051 of 2024 entered into an asset reconstruction agreement with the Karnataka Bank Ltd. on 04.03.2024 and the petitioner in W.P.(C)No.23003 of 2024 entered into an asset reconstruction agreement with the Federal Bank Ltd. on 26.03.2024, copies of which have been produced as Ext.P2 in both the writ petitions. The agreements are as required under Section 5 (1)(b) of the SARFAESI Act. T
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