https://www.taxtmi.com/highlights?id=93208 The SC affirmed the High Court's dismissal of the appeal, holding the instrument labelled a "Security Bond cum Mortgage Deed" is, in substance, a mortgage deed chargeable under Article 40 of Sch.1-B of the Indian Stamp Act, 1899, not falling within Article 57. The Court found the instrument transferred the appellant's interest in specified properties to the development authority to secure performance and payment obligations, thereby satisfying the statutory definition of mortgage. Article 57's second limb applies only to surety-executed securities; absent any surety and with the principal debtor executing the deed, Article 57 is inapplicable. The appeal was dismissed and the High Court orders upheld. en-us Fri, 10 Oct 2025 08:44:07 +0530 Fri, 10 Oct 2025 08:44:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93208 The SC affirmed the High Court's dismissal of the appeal, holding the instrument labelled a "Security Bond cum Mortgage Deed" is, in substance, a mortgage deed chargeable under Article 40 of Sch.1-B of the Indian Stamp Act, 1899, not falling within Article 57. The Court found the instrument transferred the appellant's interest in specified properties to the development authority to secure performance and payment obligations, thereby satisfying the statutory definition of mortgage. Article 57's second limb applies only to surety-executed securities; absent any surety and with the principal debtor executing the deed, Article 57 is inapplicable. The appeal was dismissed and the High Court orders upheld. Highlights Indian Laws Fri, 10 Oct 2025 08:44:07 +0530 https://www.taxtmi.com/highlights?id=93208