Delhi High Court Grants Relief to Ambuja Cement, Quashes Rs218 Cr Stamp Duty Order

New Delhi: Delhi High Court has ruled in favour of Ambuja Cement Limited, setting aside a show cause tice and an order demanding Rs218.87 crore in stamp duty along with a Rs69 crore penalty. S&A Law Offices acted for Ambuja Cement Limited (ACL), wherein ACL h challenged order passed by Collector of Stamps, Delhi, directing ACL to pay stamp duty of Rs218,87,81,917.26 along with a penalty of Rs69 crores on merger order dated 14.11.2011.

Amongst various grounds of Challenge, Hon'ble High Court of Delhi, while holding that an order of amalgamation under Sections 391 to 394 of Companies Act, 1956 was an instrument exigible to stamp duty, was pleased to hold that ACL was covered under tification . 13 dated 25.12.1937.

Hon'ble High Court also ted that show cause tice issued by Collector of Stamp was beyond prescribed period of limitation. Consequently, High Court allowed Writ Petition and set aside show cause tice and order passed by Collector of Stamps, Delhi.

Ambuja Cement Limited was represented by a team from S&A Law Offices, led by (Senior Partner) Vijay K Singh, along with (Partner) hip Kumar Ray, (Principal Associate) Kumar Shashwat Singh Saw, and (Senior Associate) Simran Sakunia.

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