urgent queries.......

If the charge is not created then now wat are the consequences if it is 10 yrs old ..???/

n pls also solve out my other two queries....

Hello Jyoti,

1- I don't think that pledge or hypothecation of vehicles is reqd. to be reigistered. Pledge of movable property is not covered and hypothecation is a kind of pledge.

Contrary Views are solicited.

2- Stamp Duty on share transfer is 0.25% of face value of shares.

Dear Frnds,

Thanks for ur replies..

Can u also tel me the soure whre it is written.

actually in clause 62 of delhi Stamp Act says that .25% on value of shares

now the question is wat is the value of shares??

is it consideration or book value of shares?

I think it is Book value or consideration price whichever is higher.

Pls correct me if m wrong.. 

I agree with Mitali that "Pledge of movable property is not covered and hypothecation is a kind of pledge." So charge is required to be created.

Stamp Duty is paid on the consideration amount. Other views are solicited.

Dear Ritu,

If stamp duty is to be paid on consideration den wat abt trf of shares as gift??

pls also tel me the source whre it is written

Dear Jyoti,

it has been held in Union of India v Kulu Valley Transport Ltd. (1958) that in case shares are not quoted, the value of the shares for the purpose of stamp means the price that the shares would fetch at the time of transfer or consideration agreed, whichever is higher. 

Hope now its clear.

Thanks a lot Ritu....

Pls also solve my query No. 3rd if anybody have any idea abt this

I agree with Mitali that charge is not required on the hypothetical vehicle.

I agree with the learned members regarding stamp duty on share transfer that:

Under Indian Stamp Act,

Stamp duty on transfer of shares in a company or body corporate - It is 50 Paise for every hundred rupees or part thereof of the value of share. [It is 75 Ps as per Article 62 of Schedule I to Stamp Act, reduced to 50 Ps per Rs 100 vide notification No. SO 198(E) dated 16.3.1976]. As per section 21, the duty has to be calculated on the basis of market price prevalent on date of instrument and not on the face value of shares.

Dear Friend

Every Charge must be created doesnot matter movable or immovable

if its for Bank, etc than Form 8

if in case of Debenture than Form 13

if u dont create charge and than when any dispute between parties than it will create big prob for you and than Compounding

Regards