When any duly stamped debenture is renewed by the issue of a new debenture in the same terms, the Collector shall upon application made within one month, repay to the person issuing such debenture, the value of the stamp on the original or on the new debenture, whichever shall be less:
Provided that the original debenture is produced before the Collector and cancelled by him in such manner as the State Government may direct.
Explanation- A debenture shall be deemed to be renewed in the same terms within the meaning of this section notwithstanding the following changes,--
(a) the issue of two or more debentures in place of one original debenture, the total amount secured being the same;
(b) the issue of one debenture in place of two or more original debentures, the total amount secured being the same;
(c) the substitution of the name of the holder at the time of renewal for the name of the original holder; and
(d) the alteration of the rate of interest or the dates of payment thereof.
Provided that the original debenture is produced before the Collector and cancelled by him in such manner as the State Government may direct.
Explanation- A debenture shall be deemed to be renewed in the same terms within the meaning of this section notwithstanding the following changes,--
(a) the issue of two or more debentures in place of one original debenture, the total amount secured being the same;
(b) the issue of one debenture in place of two or more original debentures, the total amount secured being the same;
(c) the substitution of the name of the holder at the time of renewal for the name of the original holder; and
(d) the alteration of the rate of interest or the dates of payment thereof.
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Section 1 · Short title, extent and commencementSection 2 · DefinitionsSection 3 · Instrument chargeable with dutySection 4 · Payment of stamp duty in cashSection 5 · Several instruments used in single transaction of sale, mortgage, agreement or any other document (memorandum etc.) relating to the deposit of title deeds or settlementSection 6 · Instrument relating to several distinct mattersSection 7 · Instruments coming within several descriptions in the ScheduleSection 8 · Payment of duty on copies, counterparts or duplicates when that duty has not been paid on the principal or original documentIndia Code, Government of India. Text fetched 24 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.