SG Mart Faces ₹1.89 Cr Stamp Duty, Penalty in Delhi

SG Mart Ltd has received orders from the Collector of Stamps, Government of NCT of Delhi, regarding stamp duty adjudication related to the issuance of dematerialized shares. The company faces a stamp duty liability of ₹88,38,990 and a penalty of ₹1,01,00,000, totaling ₹1,89,38,990, for FY2023-24, FY2024-25 and FY2025-26. The company has filed a writ petition before the Delhi High Court, as it believes it had paid the stamp duty correctly under the Indian Stamp Act, 1899. The impact on the company's financials depends on the outcome of the writ petition.