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2013 (6) TMI 838 - HC - Indian LawsApplication u/s 9 of the Arbitration and Conciliation Act, 1996, - An objection was raised on behalf of the Appellant on the ground that the Memorandum of Understanding (MOU) was insufficiently stamped and that in consequence, the document could not be acted upon unless the stamp duty and penalty, if any, payable thereon was adjudicated upon - HELD THAT:- The document came before the Court in the course of the proceedings under Section 9. A consideration of the issue could not have been deferred to the arbitration proceedings having regard to the provisions of Section 33(1) of the Bombay Stamp Act, 1958. Article 5(ga) of the Schedule relates to the stamp duty payable on an agreement or MOU where it relates to giving authority or power to a promoter or a developer by whatever name called for construction on, development of or sale or transfer of any immovable property. Prima facie, the document would require stamping and has been insufficiently stamped having regard to the provisions of Article 5(ga) of the Schedule to the Bombay Stamp Act, 1958. In the circumstances, Court pass the following order : (i) The MOU is impounded. An authenticated copy of the MOU shall be forwarded by the Prothonotary and Senior Master to the Collector of Stamps, Mumbai Suburban District, for adjudication of the stamp duty and penalty, if any, payable on the document under the provisions of the Bombay Stamp Act, 1958; (ii) The Collector of Stamps, Mumbai Suburban District shall expedite the determination in terms of clause (i) above and complete the exercise within a period of four weeks of the receipt of a duly authenticated copy of the document together with an authenticated copy of this order from the Prothonotary & Senior Master; (iii) Pending further orders shall remain stayed;
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