Aarti Pharmalabs Faces ₹59.5 Cr Stamp Duty & Penalty Order

Aarti Pharmalabs Limited has received an order from the Office of the Superintendent of Stamps, Gandhinagar, Gujarat, levying a total of ₹59.5 Crores in stamp duty and penalties. This order pertains to the demerger scheme between Aarti Industries Limited and Aarti Pharmalabs Limited, sanctioned by the NCLT in September 2022. The company has been charged ₹25 Crores in stamp duty, ₹25 Crores as penalty for deficient duty, and an additional ₹9.5 Crores under the Gujarat Stamp Act. Aarti Pharmalabs believes it has strong grounds to challenge the order and is evaluating its legal options.