- (1.) A short but an intricate question is involved in this writ petition.
(2.) The question is as to whether the authorities under the Indian Stamp Act, 1899 in exercise of power under Section 47A of the Act are empowered to determine the market value of the land under transfer when the same has been sold by public auction or by inviting tenders under the supervision of the Court at a value approved by the Court.
(3.) The facts leading to the above question may be summarised as under: M/s. Bharat Berg Ltd., a company incorporated under the Companies Act was ordered to be wound up by the order of the Bombay High Court dated 21.12.1999 passed in Company Petition No. 514 of 1998. The Official Liquidator stepped in and took possession of all assets of the company in liquidation which included the property in question i.e. the land situate in village Okhara, Tehsil Bindki, Malwa, district Fatehpur, Uttar Pradesh. He was granted permission to sell the above land by the Court on 3rd August, 2000. Accordingly, sale notices were published in the newspapers and the offer of M/s. Sanjug Trading Company Ltd. for a sum of Rs. 37,51,000/- was accepted/confirmed by the Court on 26.4.2002. Subsequently, the Court vide order dated 17.12.2003 permitted the sale deed to be executed in favour of Petitioner M/s. Saya Traders, as a nominee of M/s. Sanjug Trading Company Ltd. The Official Liquidator on 30.4.2004 executed a deed of conveyance in favour of the Petitioner for a sale consideration of Rs. 37,51,000/- and presented the same for registration before the Sub-Registrar on 19.4.2004 but the document was returned without registering. The deed was again presented for registration on 28.5.2004 after removing the objections.;