Stamp Duty On Loan Agreement In Uttar Pradesh

08 Oct

In accordance with the amending law, section 5 (1A) has been inserted into SARFAESI, which provides that any agreement or document relating to the transfer or assignment of rights or shares of financial assets in accordance with Article 5 (1) OF SARFAESI to a CRA is not subject to the payment of stamp duty. 2. Where, for the purposes of Article 44, duty is paid in accordance with Article 52, it shall be reduced to the rate of duty applicable pursuant to this Article. In this regard, it should be noted that, pursuant to the Enforcement of Security Interest and Recovery of Debt Laws and Miscellaneous Commissions (Amendment) Act, 2016 (“Amendment Act”), which amended the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI”) and the Indian Stamp Act to provide for an exemption from stamp duty on an act of assignment in favour of a CRA.

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