PRAKASH LEASING LTD Vs. STATE OF KARNATAKA

JUDGEMENT

(1.) THE petitioner in this petition is a Company registered under the Companies Act, 1956 and it is stated that it is engaged in non-banking financial activities like leasing, corporate financing, hire-purchase and other allied financial services.

(2.) IN this petition, the petitioner has called in question the correctness of endorsement dated 20th October, 1997 issued by the third respondent, a copy of which has been produced as Annexure-G to the writ petition, and also has prayed for a further direction to the third respondent to issue a fresh registration certificate in terms of the provisions contained in sub-section (5) of Section 51 of the Motor Vehicles Act (hereinafter referred to as "the Act"), without insisting upon the petitioner for payment of stamp duty in terms of Article 20 (3) (a) of the karnataka Stamp Act, 1957.

(3.) FACTS that may be relevant for the disposal of this petition may briefly be stated as hereunder.