Tamil Nadu Government Gazette, Part II, Section 2, No. 10 (10 II 2 v4)
The Government of Tamil Nadu, through the Commercial Taxes and Registration Department, Home Department and other Secretariat Departments, published these notifications on 4 March 2020. G.O. (Rt.) No. 699, Commercial Taxes and Registration (J1), dated 31 December 2019, amends an earlier stamp duty notification, while G.O. Ms. No. 83, Home (Police XIX), dated 10 February 2020, temporarily attaches two immovable properties connected with Messers Kongu Finance and Investment in Erode District.
What the gazette contains
The Tamil Nadu Government Gazette, Part II, Section 2, No. 10, published by the Government of Tamil Nadu on 4 March 2020, contains notifications from several Secretariat Departments. For property readers, the main items are an amendment concerning consolidated stamp duty for insurance policies and the temporary attachment of land connected with a financial establishment.
The issue also lists labour dispute referrals, an appointment concerning the Tamil Nadu National Law University, a Southern Zonal Council nomination, and protection of Jain beds at Onampakkam Village under the Tamil Nadu Ancient and Historical Monuments and Archaeological Sites and Remains Act, 1966.
Stamp duty notification amendment
G.O. (Rt.) No. 699, Commercial Taxes and Registration (J1), dated 31 December 2019, was issued by the Commercial Taxes and Registration Department. It amends Notification No. II(2)/CTR/391/2019 concerning consolidated duty chargeable on policies issued by the National Insurance Company Limited through its Regional Office at Chennai-6.
Key changes are:
- The date stated in the earlier notification is changed from 30 September 2019 to 31 December 2020.
- The amount stated in the earlier notification is changed from Rs. 10,00,000 to Rs. 20,00,000.
Attachment of Erode properties
G.O. Ms. No. 83, Home (Police XIX), dated 10 February 2020, was issued by the Home Department after complaints that Messers Kongu Finance and Investment had failed to return matured deposits. The Government made an ad-interim attachment of two properties standing in the name of P. Malarkodi, wife of T. R. Periyasamy, a partner of the financial establishment.
The attached properties are:
- Plot No. 159, Survey No. 81/1B, Vadamugam Vellodu Village, Perundurai Taluk, measuring 2,324 square feet and valued at Rs. 5,06,632.
- Plot No. 172 in the same survey number and village, measuring 3,151 square feet and valued at Rs. 6,86,918.
- The combined extent is 5,475 square feet, with a stated total value of Rs. 11,93,550.
Control of the properties is transferred to the Competent Authority and District Revenue Officer, Erode District. The authority is directed to pursue the prescribed proceedings, with assistance from the Special Public Prosecutor at the Special Court in Coimbatore.
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Common questions
Which Erode properties were attached?
The attachment covers Plot Nos. 159 and 172 in Survey No. 81/1B, Vadamugam Vellodu Village, Perundurai Taluk. Their combined extent is 5,475 square feet.
Does the attachment transfer ownership to the Government?
The notification makes an ad-interim attachment and transfers control to the Competent Authority and District Revenue Officer, Erode District. It directs that authority to pursue further proceedings under the applicable law and rules.
Why were the properties connected with Kongu Finance and Investment attached?
The Government stated that depositors had complained of non-return of matured deposits and that the financial establishment was unlikely to repay them. The properties were alleged to have been acquired from deposits collected from depositors.
What did the insurance stamp duty amendment change?
The Commercial Taxes and Registration Department substituted 31 December 2020 for 30 September 2019 and Rs. 20,00,000 for Rs. 10,00,000 in the earlier notification concerning policies issued through the National Insurance Company Limited Regional Office at Chennai-6.
