Not mere deposit of title deeds = white - requires stamps duty and registration as if it is a mortgage = objection raised by the defendant is upheld =In the instant case, the document in question contains two statements viz., 1) the document relating to the land, which was registered as document No.433 of 2003 was handed over as security for the loan amount; 2) in case of failure to repay the amount, the lender was given full rights to recover the amount against the property secured.- If it is a simple document depositing title deed as a security, it would not have required registration, but when authorised the lender to take action for recovery of money on the basis of such deposit of title deed coupled with Memorandum, it requires registration. This distinction was not maintained by the trial Court.- The document was executed on a white paper. Article 7 of Schedule 1-A of the Indian Stamp Act, 1899 was amended by substituting the said Article under the Act 19 of 2005 w.e.f. 01-08-2005 requiring proper stamp duty. Article 35 of Schedule 1-A of the Act deals with Mortgage deed. In either of the cases, it requires stamp duty and if it is a mortgage deed, it further requires registration though it is styled as Memorandum of Deposit of Title deeds.

objection raised by the defendant is upheld =In the instant case, the document in question contains two statements viz., 1) the document relating to the land, which was registered as document No.433 of 2003 was handed over as security for the loan amount; 2) in case of failure to repay the amount, the lender was given full rights to recover the amount against the property secured.- If it is a simple document depositing title deed as a security, it would not have required registration, but when authorised the lender to take action for recovery of money on the basis of such deposit of title deed coupled with Memorandum, it requires registration. This distinction was not maintained by the trial Court.- The document was executed on a white paper. Article 7 of Schedule 1-A of the Indian Stamp Act, 1899 was amended by substituting the said Article under the Act 19 of 2005 w.e.f. 01-08-2005 requiring proper stamp duty. Article 35 of Schedule 1-A of the Act deals with Mortgage deed. In either of the cases, it requires stamp duty and if it is a mortgage deed, it further requires registration though it is styled as Memorandum of Deposit of Title deeds.

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