(1) In a suit for movable property other than documents of title, fee shall be computed,—
(a) where the subject-matter has a market value, on such value; or
(b) where the subject-matter has no market value, on the amount at which the relief sought is valued in the plaint:
Provided that where the suit is for goods pledged as security for payment of a debt, the fee shall be computed on the amount of debt.
(2) (a) In a suit for possession of documents of title, fee shall be computed on oneeighth of the amount or of the market value of the property secured by the document,
(i) where the plaint alleges denial of the plaintiff’s title to the money or the property secured by the document, or
(ii) where an issue is framed regarding the plaintiff’s title to the money or the property secured by the document:
Provided that where the allegation in the plaint or the issue framed relates only to a portion of the amount or property, fee shall be computed on one-eighth of such portion of the amount or on one-eighth of the market value of such portion of the property.
(b) In a suit for possession of documents of title where the plaintiff’s title to the money or the property secured by the document is not denied, fee shall be computed on the amount at which the relief sought is valued in the plaint.
Explanation.—The expression “document of title” means a document which purports or operates to create, declare, assign, limit or extinguish, whether in present or in future, any right, title or interest, whether vested or contingent, in any property.