The Finance Department (Rajasthan) on Tuesday has notified the conditions to exempt the excess registration fees chargeable on the instrument of transfer of immovable property of sick MSMEs for their revival.
The Government in suppression to its earlier notification dated 20th February 2020 has ordered that the registration fees chargeable in excess of rupees ten thousand on the instrument of transfer of immovable property of micro or small enterprise of manufacturing sector as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (Central Act No. 27 of 2006), for the purposes of revival of such enterprise, shall be remitted if,
- Possession of such micro or small enterprise has been taken over by the RIICO, RFC, Financial Institutions or banks under section 29 of the State Financial Corporation Act, 1951 section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
- Udyam Registration, Udyam Aadhar, Entrepreneur Memorandum-2 (EM-2) or any other relevant evidence regarding the category of the enterprise is submitted at the time of registration of such instrument.
This exemption shall also be applicable on the instruments pending for registration or reference before Sub-Registrar or adjudication before Collector (Stamps) or other courts but registration fee already paid according to the provisions of the Registration Act, 1908 shall not be refunded.