Bank has taken possession of immovable mortgaged property on failer of Borrower to repay loan and then after Bank has carried out procedure under SARFAESI, Act and sell the property in Auction.
Whether Bank was required to pay Stamp duty in pursuance of Possession taken by the Bank?
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Stamp duty on possession taken by Bank in SARFAESI Act
Replies (1)
Any doument by which the possession is take is Conveyance Deed as defined in the stampduty Act then the provision for payment of stamp duty may be applicable.
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