Case Law Details
Shriram City Union Finance Ltd. Vs Mr. Donald Dayanand Donald (Karnataka High Court)
Section 17 of the Karnataka Stamp Act provides the time for stamping the instruments. The said provision read as follows:
“17. Instruments executed in the State of Karnataka – All instruments chargeable with duty and executed by any person in the State of Karnataka shall be stamped before or at the time of execution.”
A plain reading of the said provision of law makes it clear that instruments shall be stamped before or at the time of execution. Therefore, it is an option given to the parties in whose favour the arbitral award had been passed to pay the applicable stamp duty either before or at the time of execution. The word ‘execution’ has been defined in Section 2 of the Karnataka Stamp Act which reads as follows:
“Section 2(f) ‘executed’ and ‘execution’ used with reference to instruments, mean ‘signed’ and ‘signature’.
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