section 43
The same duty as is chargeable on Articles under Article 11, according to the share capital of the company.
The Indian Stamp (Madhya Pradesh Amendment) Act, 1958Tax195821 sections
Statutory text
Mortgage deed, not being an agreement relating to the deposit of title deeds, Pawn, Pledge or Hypothecation (No.7), Bottomry bond (No. 15), Mortgage of a crop (No.44), Respondentia Bond (No.55), or a Security bond (No. 56)-
- (a) When possession of the property or any part of the property comprised in such deed is given by mortgagor or agreed to be given. The same duty as a conveyance (No. 25) for the amount secured by such deed.
- (b) When possession is not given or agreed to be given as aforesaid. The same duty as a Bond (No. 14) for the amount secured by such deed. Explanation-I A mortgagor who gives to the mortgagee a power of attorney to collect rents of a lease of the property mortgaged or part thereof, is deemed to give possession within the meaning of this article. Explanation-II For mortgage, for creating development of or construction on land under the Madhya Pradesh Nagar Palika (Registration of Colonizer, Terms and Conditions) Rules, 1998 and the Madhya Pradesh Gram Panchayat (Registration of Colonizer, Terms and Conditions) Rules, 1999, the development expenses approved by the competent officer and set forth in the document, shall be the amount secured.
- (c) When a collateral or auxiliary or additional or substituted security, or by way of further assurance for the above mentioned purpose, where the principal or primary security is duly stamped.
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