AI Overview...
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Validity of Promissory Note Executed on Rs. 100 Non-Judicial Stamp
The courts have recognized that promissory notes executed with a Rs. 100 non-judicial stamp are valid, provided the stamp is properly affixed and the instrument meets the essential criteria of a promissory note under the Negotiable Instruments Act. Several judgments confirm that even a promissory note with a minimal stamp value, such as Rs. 100, remains valid if properly executed and stamped at the time of execution.
CYBERCITY BUILDERS AND DEVELOPERS PRIVATE LIMITED vs THE INSPECTOR GENERAL OF REGISTRATION - Madras, A. Rangaswamy VS K. Govindaswamy Naidu - Madras, Varra Trimurthulu VS Buddaraju Venkata Rama Krishna Satya Surya Subba Raju - Andhra Pradesh -
Stamp Duty and Legal Validity
The Indian Stamp Act mandates that instruments chargeable with duty must be duly stamped at or before the time of execution. Instruments like promissory notes, even if executed with a Rs. 100 stamp, are enforceable if the stamp is affixed correctly and the instrument is executed within the legal framework. The validity of such promissory notes is upheld in courts, emphasizing the importance of proper stamping rather than the nominal value of the stamp.
CYBERCITY BUILDERS AND DEVELOPERS PRIVATE LIMITED vs THE INSPECTOR GENERAL OF REGISTRATION - Madras, Varra Trimurthulu VS Buddaraju Venkata Rama Krishna Satya Surya Subba Raju - Andhra Pradesh, M. Venkataratnam VS M. Chelamayya - Andhra Pradesh -
Judicial Decisions Affirming Validity
Courts have consistently held that promissory notes executed with Rs. 100 non-judicial stamps are valid, especially when the instrument contains the necessary elements such as an unconditional promise to pay. The absence of higher stamp values does not invalidate the instrument, provided the stamp is properly affixed and the document is executed in accordance with legal requirements.
CYBERCITY BUILDERS AND DEVELOPERS PRIVATE LIMITED vs THE INSPECTOR GENERAL OF REGISTRATION - Madras, A. Rangaswamy VS K. Govindaswamy Naidu - Madras, Varra Trimurthulu VS Buddaraju Venkata Rama Krishna Satya Surya Subba Raju - Andhra Pradesh
Analysis and Conclusion:
Based on the cited judgments, a promissory note executed with a Rs. 100 non-judicial stamp is legally valid if the stamp is properly affixed and the instrument fulfills the essential requirements of a promissory note under the Negotiable Instruments Act. Proper stamping at the time of execution is crucial, but the nominal value of the stamp does not inherently invalidate the document. Therefore, a Rs. 100 non-judicial stamp on a promissory note does not render it invalid.
Search Results for "Promissory Note Executed on 100 Value Non Judicial Stamp is Valid"
2024 Supreme(Online)(AP) 248 • India - High Court of Andhra Pradesh
Dr. V R K Krupa Sagar, J
judgment granting specific performance of an agreement to sell - The court affirmed the trial court's finding that the agreement was valid ... The first three stamps are of a value of Rs.5,000/-. Then there are two stamps in the value of Rs.500/- and then there is one stamp in the value of Rs.100/-. All the stamps are shown to have been sold on 07.08.2002. Be it noted, on 08.08.2002 the agreement for sale was executed. ... Whether the agreement of sale dt: 08.08.2002 ....
• India - Crimes
T.SUNIL CHOWDARY
The first respondent got issued a reply taking the stand that he lost his polythene bag on 12.09.2005 at Pamarru bus stand which contains the promissory notes, cheques and non-judicial stamp papers. ... After settlement of the financial transaction, he has taken back 20 blank promissory notes, blank cheques bearing Nos.118551 to 118575 drawn on Urban Bank, Gudivada branch, blank cheque beraring Nos.689030 to 689050 drawn on Gandhi Nagar branch, Vijayada and two non-judicial#H....
2016 0 Supreme(AP) 142 • India - Andhra Pradesh
T.SUNIL CHOWDARY
notes blank cheques - This Criminal Petition is filed seeking to quash proceedings against petitioner on file of Court of Judicial ... law - Criminal Procedure Code - Section 482 - Indian Panel Code - Sections 385 and 427 –Proceeding/complaint- Cognizance - Blank promissory ... of offences against petitioner - Drawn on Urban Bank branch blank cheque - Further submitted that there are no grounds much less valid ... The first respondent got issued a reply taking the stand that he lost his polythene bag on 12.09.2005 at Pamarru bus stand whi....
2024 Supreme(Online)(MAD) 15216 • India - High Court of Madras
N. SATHISH KUMAR, J
Ratio Decidendi: The court held that impounding was not valid without an existing property to form a lease, thereby establishing ... Stamp Duty - Leave and License Agreement - Indian Stamp Act - Sections 33, 38, 40, 42, 105 - The court determined that the impounding ... that a contingent agreement could not be treated as a lease deed for stamp duty purposes. ... , or, being a promissory note, may have been delivered to the payee: (b) the stamp on any document which i....
1960 0 Supreme(Mad) 391 • India - Madras
JAGADISAN, P.S.KAILASAM
Negotiable Instruments Act, 1881-Section 4-Promissory note -Held, instrument of note containing expression to be treated as promissory ... note. ... Referring to the definition of a promissory note as contained in the Act the Judicial Committee observed thus: ... “It is indeed doubtful whether a document can properly be styled a promissory note which does not contain an undertaking to pay, not merely an undertaking....
2014 0 Supreme(AP) 217 • India - Andhra Pradesh
T.SUNIL CHOWDARY
(A) Code of Civil Procedure, 1908-Section 100-Second appeal-Against the decree and judgment passed Additional District Judge, Fast ... Track Court-In the instant appeal it appears that the first appellate court has assigned cogent and valid reasons to its findings-Moreover ... As per the testimony of P.W.1 and P.W.2, the first defendant borrowed an amount of Rs.40,000/- from the plaintiff on 15.3.1994 and executed Ex.A1 promissory note. In the written statement, first defendant has taken a plea that he ....
2006 0 Supreme(P&H) 137 • India - Punjab and Haryana
M.M.KUMAR
D1 to D3, thrown to the winds merely for asking which were duly executed between the parties - Appellant is a mortgagee alongwith ... Evidence Act, 1872 - Section 79 - Certificate of Registration - Presumption of - Held, Courts must take judicial ... (Para 21) ... Civil Procedure Code, 1908 - Section 100 - Regular Second ... The absence of the non-production of the promissory note on the record has been considered to be a vital fact contributing to the finding that the agreement dated....
2024 0 Supreme(AP) 1226 • India - Andhra Pradesh
V. R. K. KRUPA SAGAR
(Paras 9, 10, 13) Facts of the case: The appellant executed an agreement for sale in ... sale - Dispute regarding the validity of an agreement for sale dated 08.08.2002 - The trial Court found the agreement to be true, valid ... Findings of Court: The trial Court found the agreement to be valid and enforceable, ... The first three stamps are of a value of Rs.5,000/-. Then there are two stamps in the value of Rs.500/- and then there is one stamp in the value of Rs.#HL....
1966 0 Supreme(AP) 75 • India - Andhra Pradesh
VENKATESAM, BASI REDDY, GOPALA KRISHNAN NAIR
Consequently, on 20th May. 1950. they executed an arbitration agreement appointing three persons as arbitrators for partitioning ... On 28th August, 1955, the four members of the family executed a document requesting the arbitrators "to pass an award taking into ... By October. 1954, the second appellant became a major and therefore he along with the first appellant and the two respondents executed ... His argument is that under section 17 of the Stamp Act all instruments chargeable with duty and executed#HL_EN....
1966 0 Supreme(AP) 73 • India - Andhra Pradesh
BASI REDDY, GOPALA KRISHNAN NAIR, VENKATESAM
Consequently, on 20-5-1950, they executed an arbitration agreement, Ex. A-1 appointing V. Krishnaiah, B. ... of Rs. 100.00 and upwards. 10. ... Both these requirements must, in our view, be fulfilled to render an award valid and enforceable. 17. ... On 28-8-1955, the four members of the family executed Ex. ... His argument is that under Section 17 of the Stamp Act all instruments chargeable with duty and executed by any person in India shall be stamped before or at the time of executio....
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