Determining the nature of a document titled as agreement which has characteristics of bond, mortgage deed and agreement

 ఒప్పంద పత్రము 

____వ సంవత్సరము ____నెల ___వ తేదీన

వ్రాయించుకున్నవారు :- AAAAAA

వ్రాయించి ఇచ్చినవారు :- BBBBBB అయిన నేను వ్రాయించియిచ్చిన “ఒప్పంద పత్రం” ఏమనగా!

Kadthal మండలము, Raviched శివారులో వున్న భూమి నాకు సంక్రమించి, నాస్వాధీనములో వున్న భూమి సర్వేనెం.122 లో ఎ.2-00 గు||లు, సర్వేనెం.22 లో ఎ.4-00 గు||లు, మొత్తం భూమి ఎ.6-00 గుంటలు గల భూమిపై రూ.2000000/- (అక్షరాల ఇరవై లక్షల రూపాయలు) నీ నుండి భూమి తాకట్టు పెట్టి నగదు రూపాయలు నేను (BBBBB) తీసుకున్నాను. ఇట్టి రూపాయలకు (6 నెలలు) గడువు నాటికి మొత్తం రూపాయలు నీకు చెల్లించగలను. గడువు నాటికి చెల్లించని యెడల నాయొక్క మొత్తం భూమి ఎ.6 నీవు కాని, నీవు కోరిన వారిపేరుమీద రిజిష్టర్ చేసి ఇవ్వగలను. ఇది నేను, నా కుటుంబ సభ్యుల సమ్మతితో ఒప్పుకొని వ్రాసి ఇచ్చిన “ఒప్పంద పత్రం” నిజం.

సాక్షులు :-

1. [Signature]

2. [Signature]

3. [Signature]

వ్రాయించు కున్నవారు; AAAAA

వ్రాయించి ఇచ్చినవారు,; BBBBBB                                                                                                         

DETERMINATION 

1. A suit for recovery of money, being O.S. No. {suit_number}, has been instituted by the Plaintiff,  against the Defendant, based on a document titled "Agreement Document" dated ___ The Document has been produced before the Court and requires classification to determine the appropriate stamp duty and penalty payable thereon. The central question for determination is whether the Document should be construed as a simple 'Agreement' chargeable with fixed duty, or as a 'Bond' or 'Mortgage-deed' chargeable with ad valorem duty.

Upon a thorough perusal of the Document, the following key features are noted: a. The Document is titled "Agreement Document". b. It evidences the receipt of a sum of Rs. 20,00,000/- (Rupees Twenty Lakhs only) by BBBBBB From AAAAA. c. It contains an express and unconditional undertaking by BBBBB to repay the said amount within a period of three months, i.e., by _______ d. The Document is attested by three individuals, namely ____________ who have affixed their signatures as witnesses. e. The Document further stipulates that specific immovable property, admeasuring 6 acres  is mortgaged as security for the repayment of the amount.

The determination of the nature of the Document is governed by the definitions provided in the Indian Stamp Act, 1899 (the "Act"), as applicable to Telangana. a. Section 2(5) of the Act defines "Bond" to include: (b) any instrument attested by a witness and not payable to order or bearer, whereby a person obliges himself to pay money to another.b. Section 2(17) of the Act defines "Mortgage-deed" as an instrument whereby, for the purpose of securing money advanced or to be advanced by way of loan, one person transfers, or creates, to, or in favour of, another, a right over or in respect of specified property. c. Article 13 of Schedule I-A of the Act (Telangana) prescribes ad valorem stamp duty for a Bond. d. Article 35 of Schedule I-A of the Act (Telangana) prescribes ad valorem stamp duty for a Mortgage-deed. e. Article 6(B) of Schedule I-A of the Act (Telangana) prescribes a fixed stamp duty for an Agreement or Memorandum of an Agreement not otherwise provided for.

Analysis and Determination:a. Attestation is Decisive: The most critical feature of the Document is its attestation by three witnesses. An instrument that creates an obligation to pay money and is attested by a witness falls squarely within the definition of a "Bond" under Section 2(5)(b) of the Act. The presence of attestation elevates the instrument beyond a mere agreement or a promissory note. b. Creation of Obligation: The Document does not merely acknowledge a pre-existing debt; it is the very instrument that creates the obligation on the part of J. Banu Prakash Chari to pay the sum of Rs. 20,00,000/-. This is a primary characteristic of a Bond. c. Title of Document is Not Conclusive: The nomenclature or title given to a document, such as "Agreement Document," is not determinative of its true nature. The character of an instrument is ascertained from its contents, the rights and liabilities it creates, and its compliance with statutory definitions. d. Dual Character as a Mortgage-deed: The Document also possesses the character of a Mortgage-deed under Section 2(17) of the Act, as it explicitly creates a security interest in specified immovable property to secure the repayment of the loan. As per the proviso to Section 6 of the Act, where an instrument is chargeable with different duties under two or more descriptions in Schedule I-A, it shall be chargeable only with the highest of such duties. Both a Bond (Article 13) and a Mortgage-deed (Article 35) attract ad valorem duty.                                               

Conclusion on Nature: Based on the foregoing analysis, the Document, by virtue of being an attested instrument creating an obligation to pay money, is unequivocally a "Bond" as defined in Section 2(5)(b) of the Act. It cannot be treated as a simple agreement attracting a fixed duty