Bank Documents for Asset Reconstruction Exempt from Stamp Duty under SARFAESI Act

Assets Care & Reconstruction Enterprise Limited Vs Ankit Metal & Power Limited (NCLT Kolkata) The case of Assets Care & Reconstruction Enterprise Limited Vs Ankit Metal & Power Limited, adjudicated by the National Company Law Tribunal (NCLT) in Kolkata, delved into several legal aspects surrounding the stamping of bank documents for asset reconstruction under the SARFAESI Act. The Corporate Debtor contended that the assignment agreements executed in favor of the Financial Creditor were not sufficiently stamped. However, citing legal precedents and statutory provisions, the NCLT...