M&A Critique

STAMP DUTY EXEMPTION ON TRANSFER OF SHARES AS PART OF MERGER OF SUBSIDIARIES

A Writ Petition was filed by Ambuja Cements Limited (hereinafter “the Petitioner” or “ACL”), challenging the imposition of stamp duty on a merger order under Article 23 of Schedule IA of the Indian Stamp Act, 1899 by Collector of Stamps, Delhi (hereinafter “Respondent”).

Brief Facts of the Case:

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Aniruddha Jain