Key Quantitative Figures
The company has received an order totaling ₹59,50,00,000 (Rupees Fifty-Nine Crore Fifty Lakh only) comprising:
- Stamp Duty: ₹25 Crores (Rupees Twenty-Five Crore only) under Article 20(D) of Schedule-I of the Gujarat Stamp Act
- Penalty equal to deficient duty: ₹25 Crores (Rupees Twenty-Five Crore only) as per Rule 9 of the Mumbai Stamp (Market Value Determination) Rules, 1984
- Additional Penalty: ₹9,50,00,000/- under provisions of the Gujarat Stamp Act, 1958
Dates of Action
- Order Date: August 29, 2026 (received from Office of the Superintendent of Stamps, Gandhinagar, Gujarat)
- NCLT Order Date: September 21, 2022 (sanctioning the Scheme of Arrangement)
- Disclosure Date: September 02, 2026
Parties Involved
- Issuing Authority: Office of the Superintendent of Stamps, Gujarat, Gandhinagar
- Demerged Company: Aarti Industries Limited
- Resulting Company: Aarti Pharmalabs Limited
- Regulatory Tribunal: National Company Law Tribunal (NCLT), Ahmedabad Bench
Nature of Violation
Alleged short payment/non-payment of stamp duty under the Gujarat Stamp Act, 1958, on the Order of the NCLT, Ahmedabad Bench dated September 21, 2022, approving the Scheme of Arrangement (Demerger) of the Pharma Division of Aarti Industries Limited into Aarti Pharmalabs Limited.
Company's Response and Rationale
The Company is in the process of evaluating the order and believes that it has a strong case on merits and will challenge the order passed by the Stamp Authorities. The Company believes that it has adequate factual and legal grounds to reasonably substantiate its position in this matter and will be taking appropriate course of actions for challenging the said order.
Financial Impact
The total quantifiable monetary impact disclosed is ₹59,50,00,000/- (Rupees Fifty-Nine Crore Fifty Lakh only).
Additional Information
The same information is being uploaded on Company's website: https://www.aartipharmalabs.com