Date of Execution of Agreement BEFORE the date franking

[CS Alpesh Dhandhlya]

Dear Experts,

If we have done franking in the supplementary Agreement in today's date then whether it is possible to keep the Effective Date of Agreement as on 01.04.2014 ?

Both the Partners are the related therefore there is no scope for internal approval.

[Ganapati Ghatti]

Strictly speaking, a document date can be on or after the date of franking / purchasing the stamp paper. We can not give retrospective effect.

The document will not stand valid if any legal issue arise in future.

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Ganapati Ghatti

Mobile: +91-8970797164

[CS Alpesh Dhandhlya]

Dear Experts,

No where in the Stamp Act, we found that the no Agreement can be made with execution date later than the date of the franking or Stamp Paper.

Therefore, we have filed the same with ROC.

Lets wait, whether the ROC raise any query or not ?

[ULHAS BHAT]

Alpeshji,

In my humble opinion, whereas legal validity of the document cannot be questioned, however stamping is to be done on or after the date of execution, not before, except in case of Foreign Documents which can be stamped within 3 months after their arrival in India. This is on a reading of the Karnataka Stamp Act, and I'm sure Bombay Stamp Act also has some provisions in those lines.
The consequences of non-stamping are that, any legal or quasi-judicial authority before whom the document is produced must impound it, and the document will be legally valid only on it being adjudicated by the District Collector and penalty paid as per relevant Stamp Laws.
To prevent this, it would have been better to go in for an adjudication and paying penalty for the delay with the Collector before franking the stamp duty on the instrument.
It depends on what you are filing. Is it related to filing returns of allotment for consideration other than cash? Is it related to Charge Registration? Based on the type of document, a strategy will need to be devised. If it is an STP form, ROC will never come to know of it unless triggers or threshold limits are crossed, in which case scrutiny will be involved.
If it is an ROC approval form, as you said you can wait for the ROC's opinion in the matter.

Do keep us posted, and kindly give further details to the extent confidentiality permits.

-Ulhas

[CS Alpesh Dhandhlya]

Thank you so much Dear Ulhas bhai for your valuable opinion & guidance.

And sure, I will updated whatsoever updates received from the ROC.

It is Form 3 of LLP so not an STP hence, ROC needs to approve the same. 

On Sunday, 23 November 2014 12:09:16 UTC+5:30, CS Alpesh Dhandhlya wrote:

Thank you so much Dear Ulhas bhai for your valuable opinion & guidance.

And sure, I will updated whatsoever updates received from the ROC.

It is Form 3 of LLP so not an STP hence, ROC needs to approve the same.