Godwin Construction Pvt. Ltd. vs Commissioner, Meerut Division 2025 INSC 1207 - Stamp Act - Contract Act - Guarantee
Indian Stamp Act, 1899 - Article 57 of Schedule 1-B ; Indian Contract Act, 1872 -Section 126 - The first limb covers security bond or mortgage deed executed by way of security for the due execution of office, or to account for money or other properties received by virtue thereof. The second limb of Article 57 of Schedule 1-B of the Indian Stamp Act, 1899, is confined to instruments executed by a surety to secure the obligations of another- a contract of guarantee is inherently tripartite, consisting of the surety, principal debtor, and a creditor. Consequently, the essential requirement for invoking Article 57 is the presence of a surety distinct from the principal debtor. Where the principal debtor itself executes a deed mortgaging its own property, Article 57 is inapplicable. (Para 20-23)
Company - A company, though a juristic person, is not a sentient being, consequently, it must act through its directors (Para 25)
Case Info
Key Details
- Case name: MS Godwin Construction Pvt. Ltd. vs Commissioner, Meerut Division.
- Neutral citation: 2025 INSC 1207.
- Coram: Justice Ahsanuddin Amanullah and Justice Prashant Kumar Mishra.
- Judgment date: October 08, 2025, New Delhi.
Statutes / Laws Referred
- Indian Stamp Act, 1899: Sections 2(17); Articles 40 and 57 of Schedule 1-B.
- Indian Contract Act, 1872: Section 126.
- Related references within Article 40 exemptions: Land Improvement Loans Act, 1883; Agriculturists’ Loan Act, 1884.
LIVELAW NEWS NETWORK