Legal16 Jun 2026, 05:30 pm
Poly Medicure Faces ₹2.5 Cr Stamp Duty & Penalty Order
AI Summary
Poly Medicure Ltd has received an order from the Office of Divisional Commissioner, Government of NCT of Delhi, imposing stamp duty and penalty totaling ₹2.50 crore in connection with share issuances. The company disputes the order, citing jurisdictional and procedural infirmities, and plans to pursue legal remedies. The order pertains to alleged deficit stamp duty of ₹1.00 crore and a penalty of ₹1.50 crore, though the company argues it has already discharged applicable stamp duties. The company believes it has strong grounds to contest the demand.
Key Highlights
- Company received ₹2.50 Cr stamp duty and penalty order from Delhi authorities.
- Order relates to alleged deficit stamp duty and penalty on share allotments.
- Poly Medicure disputes the order, citing legal and procedural infirmities.
- Company will pursue legal remedies to challenge the demand.
- Financial impact is currently under dispute and legal review.
Price Impact
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