A total amount of Rs 5.10L was paid as stamp duty towards registration of the office space by the buyer
A property involving infamous sharemarket scamster Harshad Mehta has been sold for Rs 80 lakh. The price at which it has been sold is Rs 5 lakh less than the ready reckoner rate. Measuring 283 sq ft, the property located in New Marine Lines' Dalamal Chambers was auctioned by inviting tenders. The auction was held by the Office of Custodian, the Special Court (Trial of Offences Relating to Transactions in Securities-TORTS) Act of 1992, under the Union Ministry of Finance.
According to a senior official from the custodian office, the auction notice was issued in September 2018. The commercial property attached belonged to the late Sushilaben J Shah, partner of Romil Exports, who is a judgment debtor of Harshad Mehta and Orion Travels Pvt Ltd, both notified entity and party by the custodian. A judgment debtor is a person against whom an order has been passed to repay the debt, and custodian in such cases appointed can deal in a way to get the money and repay the debt which includes attachment of property and then auctioning it.
The property has been bought by a Surat-based woman named Urmial Adhikari. The deal was registered in May. A total amount of Rs 5.10 lakh was paid as stamp duty towards registration of the office space by the buyer.
In November last year, the same office of custodian had placed another property linked to Mehta on sale too. The property located in Vandana Co-operative Housing Society, Juhu measures about 1,150 sq ft of super built-up area. The official said that there has been no final decision on this particular property yet.
Harshad Mehta's most talked about property was the one that the custodian's office had put up in an auction in 2009. His eight inter-connected flats in Worli's Madhuli Building was put up on auction then. The sea facing property has terrace on both sides and is spread over two floors. The building is at a prime location in Worli – opposite Nehru Centre. Despite a successful auction, the matter got stuck in a legal tussle, informed the official.
RS 5L STAMP DUTY
A total amount of Rs 5.10L was paid as stamp duty towards registration of the office space by the buyer
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