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Arvind Steel Company and ors. Vs. Union Bank of India

Court : DRAT Mumbai

Reported in : II(2005)BC151

..... under the provisions of section 9(1)(a) of the indian stamp act, 1899, the government of india has remitted proper stamp duty chargeable under article 13 of schedule i in respect of usance bills drawn on commercial banks in respect of commercial transaction if such bills are payable within three ..... , in view of notification referred to above read with section 9(1)(a) of the indian stamp act, 1899, the contention of the appellants has to be rejected.7. ..... learned presiding officer after hearing both the sides, and considering and assessing the entire material placed before him came to the conclusion that the hundis were properly stamped, original applications were not bad for non-joinder of drawer of the hundis, hundis were properly drawn and consequently the applicant was holder in due course. ..... i do not find any merit in this contention also, in view of section 117 of the indian evidence act, it is not open to the acceptor to take up this contention and has no locus to say that what the drawer company could ..... it is also contended that the hundis were not properly stamped and as such were not admissible in evidence.it is also contended that the hundis were not properly drawn since they were not signed by authorized ..... the first and foremost defence of the defendant is to the effect that payment of the hundis has to be made to the drawer and therefore, they were not ..... has led much stress on the point of non-stamping of hundis. ..... is true that none of the hundis in both the matters are stamped. .....