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CS Professional · Drafting, Pleadings and Appearances · Laws relating to Drafting and Conveyancing

In Orissa, an officer authorised in writing by the Collector inspects the records of a bank under the amended Section 73 of the Indian Stamp Act and finds that an instrument is not duly stamped. The officer wants to seize the bank's documents. Which statement is correct under the Orissa amendment?

Under the Orissa amendment, records in a bank's custody may be seized only after a notice of thirty days to make good the deficit of stamp duty has been given. Immediate seizure without notice is not allowed, though seizure is not barred altogether.

  1. ASeizure of the bank's records may be made only after a notice of thirty days to make good the deficit of stamp duty is givenCorrect
  2. BSeizure may be made immediately without notice since banks are public bodies
  3. CSeizure is prohibited altogether for banks
  4. DSeizure needs prior approval of the Registrar under the Registration Act

Explanation

The Orissa amendment lets the authorised officer enter premises, inspect and, if necessary, seize and impound records under proper acknowledgement. The proviso, however, says seizure of records in a bank's custody can be made only after a thirty-day notice to make good the deficit of duty. Immediate seizure is therefore wrong, and seizure is not prohibited.

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