In case of non-fulfillment of responsibility by the Institution, Board,

etc. referred to in section 10A, by giving such institutions an opportunity to be heard, the Collector shall impose penalty from Rs.

1000/- to Rs. 10,000/- in each case on merits and demerits of the case

on negligence by institutes to recover stamp duty.”.

20. Amendment of section 68 of Bom. LX of 1958 In the principal Act, in section 68, -

1. (i) in sub-section (1), after the words "with any such instrument", the words "including such instrument" shall be inserted;
2. (ii) in sub-section (2), for the words "maintaining such registers", the words "maintaining such instrument, registers" shall be substituted. 21. Insertion of new sections 68A in Bom. LX of 1958 In the principal Act, after section 68, the following section shall be inserted, namely:- “68A. If any person prevents or obstructs entry of any officer authorized under section 68 or fails to give any reasonable assistance to him, he shall, on conviction, be punished with imprisonment for a term which shall not be less than one month, but which may extend to six months and with fine which may extend to rupees ten thousand.”. 22. Amendment of section 70 of Bom. LX of 1958 In the principal Act, in section 70, for the words “five hundred rupees”, the words “an amount equal to two times of deficit duty” shall be substituted. 23. Amendment of Schedule I to Bom. LX of 1958 In the principal Act, in Schedule 1,-

1. (1) in article 5, after clause (gb), the following clauses shall be inserted namely:- “(gc) project under Built, Operate and Transfer
   • (BOT) system, or concession agreement or any project built under other mode of public private partnership which are not covered under any other existing article, whether with or without toll or free collection rights, - subject to maximum twenty-five lakhs rupees and minimum Five thousand rupees, 0.10 percent of the amount agreed in the contract.”:
2. (2) in article 6,-
   • (a) in clause(1), in sub-clause (a), for items
     • (i) and (ii), the following items shall be substituted, namely:- Subject to maximum of seventy-five lakhs rupees in case of consortium bank “(i) where the amount of loan or debt does not exceed Rs. 1,00,00,000/- Subject to maximum of Five thousand rupees, twenty-five paise for every hundred rupees or part thereof.
     • (ii) where the amount of loan or debt exceeds Rs.

1,00,00,000/- but does not

exceed Rs. 10,00,00,000/- twenty-five paise for every hundred rupees or part thereof.

1. (iii) where the amount of loan or debt exceeds Rs. 10,00,00,000/- Subject to maximum of fifteen lakhs rupees, fifty paise for every hundred rupees or part thereof.”;

1. (b) in clause (2), for items
   • (i) and (ii), the following items shall be substituted, namely:- Subject to maximum of seventy-five lakhs rupees in case of consortium bank “(i) where the amount of loan or debt does not exceed Rs. 1,00,00,000/- Subject to maximum of Five thousand rupees, twenty-five paise for every hundred rupees or part thereof.
   • (ii) where the amount of loan or debt exceeds Rs.

1,00,00,000/- but does not

exceed Rs. 10,00,00,000/- twenty five paise for every hundred rupees or part thereof.

1. (iii) where the amount of loan or debt exceeds Rs. 10,00,00,000/- Subject to maximum of fifteen lakhs rupees, fifty paise for every hundred rupees or part thereof.”;

1. (3) in article 12, in column 2, for the words “subject to maximum of five lakhs rupees,’’ the words “subject to maximum of fifteen lakhs rupees,’’ shall be substituted.
2. (4) in article 14, for items
   • (i) and (ii), the following items shall be substituted, namely:- Subject to maximum of seventy five lakhs rupees in case of consortium bank “(i) where the amount of loan or debt does not exceed Rs. 1,00,00,000/- Subject to maximum of Five thousand rupees, twenty-five paise for every hundred rupees or part thereof.
   • (ii) where the amount of loan or debt exceeds Rs.

1,00,00,000/- but does not

exceed Rs. 10,00,00,000/- Twenty-five paise for every hundred rupees or part thereof.

1. (iii) where the amount of loan or debt exceeds Rs. 10,00,00,000/- Subject to maximum of fifteen lakhs rupees, fifty paise for every hundred rupees or part thereof.

1. (5) in article 20, in clause (d), -
   • (i) in column (1), for the portion beginning with the word “CONVEYANCE” and ending with the words and figures “the Companies Act, 1956”, the following portion shall be substituted, namely: - “every order made by the High Court under section 394 of the

Companies Act, 1956 or every order made by the National Company

Law Tribunal under sections 230 to 234 of the Companies Act, 2013 or every confirmation issued by the Central Government under sub- section

1. (3) of section 233 of the Companies Act, 2013, in respect of the amalgamation, merger, demerger, arrangement or reconstruction of companies (including subsidiaries of parent company); or every order of the Reserve Bank of India under section 44A of the Banking Regulation Act, 1949, in respect of amalgamation or reconstruction of

Banking Companies; or every order made by the Board for Industrial

and Financial Reconstruction under section 18 or 19 of the Sick Industrial Companies (Special Provisions) Act, 1985, in respect of sanction of Scheme specified therein or every order made by the National Company Law Tribunal under section 31 of the Insolvency and Bankruptcy Code, 2016, in respect of approval of resolution plan and order by ministry of finance or under any prevailing law by any authority in its scope, in respect of amalgamation, arrangement, merger, demerger or reconstruction of companies, banks, institutes etc."

1. (ii) in column (2), for the words “Subject to maximum twenty –five crores rupees”, the words “Subject to maximum fifty crores rupees and minimum ten thousand rupees for each transferor or transferee” shall be substituted;
2. (iii) in column

1. (2) in sub-clause (i), after the words “amalgamation”, the

words “merger, demerger, arrangement or reconstruction” shall be

inserted;

1. (iv) in Explanation III, for clause (c), the following clause shall be substituted, namely: - “(c) Where the transferee company and transferor company, whose shares are not listed or listed but not quoted for trading on stock exchange means the market value of the shares issued or allotted with reference to the market value of the share of the transferee company or as determined by the collector after giving the transferee company an opportunity of being heard.”;

1. (2) in article 27, in clause (b), for item (ii), the following item shall be substituted, namely:- “(ii) if possession is not so given. Subject to maximum of seventy- five lakhs rupees in case of consortium bank
   • (a) where the amount of further charge secured by such instrument does not exceed Rs. 1,00,00,000/-Subject to maximum of Five thousand rupees, twenty-five paise for every hundred rupees or part thereof.
   • (b) where the amount of further charge secured by such instrument exceeds Rs. 1,00,00,000/- but does not exceed Rs.

10,00,00,000/- twenty-five paise for

every hundred rupees or part thereof.

1. (1) where the amount of further charge secured by such instrument exceeds Rs. 10,00,00,000/-, Subject to maximum of fifteen lakhs rupees fifty paise for every hundred rupees or part thereof.”;
2. (6) in article 30, in clause (a),
   • (i) for items
   • (i) to (viii), the following items shall be substituted, namely: - “(i) Where the lease purports to be for a term of less than one year. Residential property – Rs.500/- Commercial property-Rs.1000/-
   • (ii) Where the lease purports to be for a terms of not less than one year but not more than five years

Residential property – Minimum

of Rs.1000/- Commercial property- Minimum of Rs.5000/- One rupees for every hundred rupees, or part thereof or the amount or value of the average annual rent reserved

1. (iii) Where the lease purports to be for a terms in excess of five years but not more than fifteen years Subject to Minimum of Rs.10,000/- Two rupees for every hundred rupees, or part thereof or the amount or value of the average annual rent reserved
2. (iv) Where the lease purports to be for a terms in excess of fifteen years but not more than thirty years Subject to Minimum of Rs.20,000/- Three rupees for every hundred rupees, or part thereof or the amount or value of the average annual rent reserved
3. (v) Where the lease purports to be for a terms in excess of thirty years but not more than ninety nine years 2.5 per cent. for the amount of consideration or as the case may be, the market value of the property, whichever is higher.
4. (vi) Where the lease purports to be for a terms in excess of ninety nine years

market value of the property which is the subject matter of the lease or the amount of consideration, whichever is higher.”;

1. (ii) for Explanation II, the following Explanation shall be substituted, namely:- “Explanation II. - For the purpose of sub-clauses
2. (v) and
3. (vi) of clause

1. (a) of this article, consideration means the amount paid as deposit or premium or advance rent or an amount of average annual rent etc.”;

1. (8) article 30A shall be deleted;
2. (9) in article 36, in clause (c), in column 2, for the words “Five rupees for every sum Rs. 1000 secured or part thereof”, the words “Five Thousand rupees” shall be substituted;
3. (10) in article 49, in clause (a), in column 1, after the word “daughter of pre- deceased son”, the words “or daughter of pre-deceased daughter or son of pre- deceased daughter’’ shall be inserted.