Bombay High Court Allows Writ Petition in Stamp Duty Dispute on Amalgamation Scheme — Reduction of Share Capital Prior to Merger Must Be Considered for Valuation. Court holds that stamp duty under Article 25(da) of Maharashtra Stamp Act, 1958 is payable on the market value of shares as on appointed date, which includes the reduced share capital sanctioned by High Court.
25 Sep 2024The petitioner, J. P. Morgan Securities India Pvt. Ltd., filed a writ petition challenging the rejection of its appeal under Section 53(1A) of the Mah...
