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Stamp Duty on Slump Sale Agreement

This query is : Resolved 

X Pvt Ltd in Maharashtra is willing to takeover an existing Sole proprietorship business of Mr Y . Mr Y is already a Shareholder and Director in X Pvt Ltd .The transfer of business is via Slump Sale where X Pvt ltd will takeover all the existing movable assets ( There are no immovable assets in the books of Proprietary concern) and all liabilities of the concerned business.
An agreement is to be entered between the two parties stating the terms and amounts pertaining to the transfer.
Is this agreement of Slump Sale required to be registered? If yes, is stamp duty payable on the same in Maharashtra and at what rate ?


Transfer of movable property is NOT required to be registered.


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