Indrani-Peter divorce case: Who will pay stamp duty of Rs 1 crore

19 September,2018 06:00 PM IST |  Mumbai  |  Vinod Kumar Menon

As high-profile Sheena Bora murder case accused set off divorce proceedings with consent terms, officials say Indrani Mukerjea's and Peter Mukerjea's sprawling wealth will attract stamp duty that could easily top Rs 1 crore

Indrani Mukerjea escorted to the family court from Byculla jail


While Indrani and Peter Mukerjea happily signed consent terms for mutual separation in the family court on Tuesday, it is not known whether they know that both immoveable and moveable properties they have agreed to split will attract stamp duty. There is no mention of who will pay the duty.

The two will have to register their assets with the sub-registrar. Suresh Jadhav, additional controller of stamps, General Stamp Office, Mumbai, told mid-day: "Even in consent terms, both moveable and immovable properties attract stamp duty, which is calculated as per the present market value. The family court will send the signed consent papers to the Controller of Stamps for ascertaining if the document has been properly stamped or not, and on the basis of the valuation, they will have to pay the stamp duty, failing which the court will not pass any further order."

Noted property lawyer Vinod Sampat echoed similar views and said that the provisions of Indian Stamp Act will be applicable in this case, and will attract a payment of 5 per cent of the market value of the properties. "Section 25(A) of the Maharashtra Stamp Act, stipulates that immoveable property attracts a stamp duty of 3 per cent. However, for political reasons the same is not charged by the stamp authorities. According to me, the estimated stamp duty and registration liability for (Indrani and Peter) will be over a crore."


Peter Mukerjea being brought to the family court from Arthur Road jail. Pics/Pradip Dhivar

Sampat added that properties the couple owns in countries like Britain and Spain will not come under the ambit of the Indian Acts. "Apart from the 5 per cent of stamp duty for properties in Mumbai, and 3 per cent (if at all) on immoveable property, an additional Rs 30,000 will be charged for consolidated registration of properties to make the consent terms legally valid. The Goa property stamp duty will be calculated separately as per that state's rules. If the consent term doesn't have a clause stating who will bear the stamp duty and registration charges, the person who is the beneficiary will have to bear the expenses. If it is equal beneficiaries, then both parties will bear the dues equally."

In-camera proceedings
Both Peter and Indrani were escorted separately to the family court from Arthur Road and Byculla jails a little after noon on Tuesday. Lawyers Edith Dey (for Indrani) and Sushmita Nair (for Peter) were already present on the first floor with the papers. Around 1 pm, they were produced before family court Principal Judge SS Sawant, who completed the verification procedure, after which the two were taken to the marriage counselor. Only Peter, Indrani and the two lawyers were present. The entire proceeding thereafter was conducted in-camera.

The court has granted six months for implementation of consent decree and the next date of hearing is March 25, 2019, when both parties will need to be present. Interestingly, Indrani who was escorted by around 15 policemen, who ensured she did not eat anything from outside. Peter was escorted by six policemen. The two exchanged words and kept smiling most of the time, and even bid good bye, as they were taken back to the jail around 2 pm. Advocate Dey refused to comment. Nair could not be reached for comment.

5%
Stamp duty on Mukerjeas's properties in the city

15
Cops escorting Indrani to ensure she did not eat outside food

What consent terms state
The consent terms are 12 pages long, divided into three parts for immovable property, monetary settlement and personal articles. Most of the properties are to be disposed of and shared between the two.

Immovable property
1. Flat No 18, Marlow building, Worli, with one shuttered garage and one open parking space
2. A flat located at The Avenue, Bristol, UK. Indrani agrees and undertakes to sign any documentation with regards to the sale of the said above flat.
3. Two flats in Goa at Villa Paradiso, Betim.
4. A flat, along with secure off-street parking in Meridian House, 3-5 Upper St. Martins Lane, Covent Garden, London, UK.
5. Property located at Phoenix House, 5th Floor, Unit No T1-B in the building bearing Block No 16 at 462, Senapati Balat Marg, Lower Parel.
5. Apartment at 4A, Malambo, Calle de gladious, Marbella, Spain along with an underground parking.
6. Peter agrees that upon his demise, Indrani's daughter Vidhie Mukherjea will become sole owner of the Bristol flat.

Monetary Settlement
1. 48 joint Fixed Deposits of over Rs 4 crore in Syndicate Bank.
2. Joint account at Barico Sabadell Atlantico, Marbella Mueva Andalucia.
3. Two fixed deposits in ANZ Bank, New Zealand.
4. Vehicle bearing registration No MH-01-BK-0301. The vehicle cost is estimated to be approximate Rs 14 lakh.

Personal Articles
1. Both to handover personal items from the joint lockers
2. All jewellary items kept in joint locker at Syndicate Bank.3. All watches (gents and ladies), Ganesh and Laxmi idols kept in said locker
3. All ladies clothes, shoes, sunglasses, bags, make-up at the Worli flat
4. Rugs and carpets bought in Jaipur, table lamps, Bali paintings, a bronze Budha, a Gauri Khan chair, antique column, dining table set and chairs, wooden bar, curtain and drapes from Worli and Goa houses, Chinese door, glass door with Vidhie's name, files kept in the garage, Orko's owl paintings, Husain and Picasso prints, etc.

Also Read: Indrani Mukerjea and Peter Mukerjea begin divorce proceedings

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