CHITRUDURGA COPPER COMPANY LIMITED Vs. SPECIAL DEPUTY COMMISSIONER AND CHIEF CONTROLLING REVENUE AUTHORITY CHITRADURGA

JUDGEMENT

(1.) The question for consideration is, whether the petitioner is liable to pay stamp duty lo the extent payable under the Karnataka Stamp Act on a copy of the instrument received by the Sub- Registrar in respect of properly coining wilhin his jurisdiclion, when the instrument is registered outside the Slate of Karnalaka.

(2.) Briefly stated, following arc the material facts of the case:- The petitioner is a company registered under the Companies Act, 1956, besides being a company falling within the definition of Section 617 of the Companies Act belonging to the catcgory.of a Government Company which was incorporated in 1966 with the object of developing mineral resources in the Stale of Karnataka and particularly to undertake mining of ores of copper and allied materials. The company has been carrying on mining of copper ore and production of copper concentrates. The copper mine of the company is located in Ingaldhal in Chitradurga.

(3.) The company borrowed from the Industrial Finance Corporation of India a long termloan of Rs. 50,00,000/- and as security for the loan, the immovable properties of the company were mortgaged in favour of I.F.C.I. The deed of mortgage was registered at Delhi on 28-2-1975 since the principal office of the I.F.C.I. is situated at Delhi. It is staled that under Section 30(2) of the Indian Registration Act, it is legally per missiblc for the Registrar of Delhi District to receive and register any instrument mentioned in Section 17, sub-section (1), clauses (a), (b), (c), (d) and (e) and Section .17(2) insofar as the instrument relating to immovable property is concerned, without regard to the situation in any part of India in respect of the property to which the document relates.