DEBENTURE

whether a mortgage debenture or note, being a marketable security transferable— (a) by the endorsement or by a separate instrument of transfer. where the amount or value does not exceed Rs. 10: Twentyfive paise. where it exceeds Rs. 10 and does not exceed Rs. 50: Fifty paise. Ditto 50 ditto 100: Ninety paise. Ditto 100 ditto 200: One rupee eighty paise. Ditto 200 ditto 300: two rupees seventy paise. Ditto 300 ditto 400: Three rupees sixty paise. Ditto 400 ditto 500: Four rupees fifty paise. Ditto 500 ditto 600: Five rupees forty paise. Ditto 600 ditto 700: Six rupees thirty paise. Ditto 700 ditto 800: Seven rupees twenty paise. Ditto 800 ditto 900: Eight rupees ten paise. Ditto 900 ditto 1,000: Nine rupees. and for every 500 or part thereof in excess of Rs. 1,000: Four rupees fifty paise. (b) by delivery where the amount or value of the consideration for such debenture as set forth therein does not exceed Rs. 50: Ninety paise. Where it exceeds Rs. 50 but does not exceed Rs. 100: One rupee eighty paise. Ditto 100 ditto 200: Three rupees sixty paise. Ditto 200 ditto 300: Five rupees forty paise. Ditto 300 ditto 400: Seven rupees twenty paise. Ditto 400 ditto 500: Nine rupees. Ditto 500 ditto 600: Ten rupees eighty paise. Ditto 600 ditto 700: Twelve rupees sixty paise. Ditto 700 ditto 800: Fourteen rupees forty paise. Ditto 800 ditto 900: Sixteen rupees twenty paise. Ditto 900 ditto 1000: Eighteen rupees. and for every Rs. 500 or part thereof in excess of Rs. 1000/-: Nine rupees. Explanation—The term 'Debenture' includes any interest coupons attached thereto but the amount of such coupons shall not be included in estimating the duty. EXEMPTIONS A debenture issued by an incorporated company or other body corporate in terms of a registered mortgaged-deed, duly stamped in respect of the full amount of debenture to be issued thereunder whereby the company or body borrowing makes over, in whole or in part, their property to trustees for the benefit of the debenture holders; Provided that the debenture so issued are expressed to be issued in terms of the said mortgage-deed.