Unstamped agreement
This query is : Open
01 June 2016
dear experts,
M/s.abc ltd entered into a lease agreement with Mr.xyz.
Agreement is duly executed by both the parties.
both the parties mutually decided to execute document without getting it stamped to avoid the stamp duty payment.
In the above case, can this agreement is enforceable in the court?
can any party seek legal remedy if any dispute arises through this unstamped agreement?
Can this agreement is called as Illegal agreement though the purpose and object of this agreement is legal?
kindly advice me on these issues??
M/s.abc ltd entered into a lease agreement with Mr.xyz.
Agreement is duly executed by both the parties.
both the parties mutually decided to execute document without getting it stamped to avoid the stamp duty payment.
In the above case, can this agreement is enforceable in the court?
can any party seek legal remedy if any dispute arises through this unstamped agreement?
Can this agreement is called as Illegal agreement though the purpose and object of this agreement is legal?
kindly advice me on these issues??
01 June 2016
you need to pay the stamp duty along with penalty, if any, NOW. And then it can be made enforceable
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01 June 2016
Ok.
so if stamp duty is not paid, Can this agreement be called as an illeagal agreement?
so if stamp duty is not paid, Can this agreement be called as an illeagal agreement?
01 June 2016
No. Please dont stretch it too far. See try to realise that LEASE is a REGISTERABLE document under Indian Registration Act. On top of it, the agreement needs to be duly stamped. Absence of both viz registration and stamp can NOT make it ILLEGAL. It becomes VOIDABLE.
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01 June 2016
thanks a lot for your kind attention and suggessions.
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