REMA SURESH Vs. DISTRICT REGISTRAR (GENERAL), PALAKKAD

JUDGEMENT

(1.) Ext.P5 order, directing stamp duty to be paid under Art.48(b) of the Kerala Stamp Act, 1959 ('Stamp Act' for short), is impugned herein.

(2.) The brief facts to be noticed are that the petitioner mortgaged certain properties with the additional respondent Bank; a mortgage by deposit of title deeds. The Branch insisted upon and hence a memorandum of deposit of title deeds was executed as per Ext.P1 and registered. When Ext.P1 document was registered, the stamp duty was levied under Art.6(2)(iii) of the Stamp Act. An amount of Rs.10,000.00 was paid as stamp duty and Rs.3,000.00 as registration fee. The petitioner, on satisfying the loan, was issued with a release of memorandum of deposit of title deeds, as seen at Ext.P3.

(3.) Before presenting the document for execution, for the purpose of adjudicating on the stamp duty, the petitioner approached the District Registrar under S.31 of the Stamp Act. An order was passed at Ext.P5 finding the stamp required to be as per Art.48(b) of the Act; akin to a conveyance. The learned Government Pleader seeks to sustain the order on the contention that the release deed so presented, renounces a claim upon a specified property and in such cases, ad valorem duty as a conveyance; in proportion to the value of the property has to be paid. The learned Government Pleader also has a contention that, if at all, a different view is taken, the stamp has to be levied under Art.47 of the Act, which would require payment of registration fees at 2% of the value of the property.