Poly Medicure Limited

Nature of the Disclosure

Regulatory filing pursuant to SEBI Listing Regulations (Regulation 30) regarding receipt of an order from the Office of Divisional Commissioner, Government of the NCT of Delhi, Revenue Department: Stamp & Registration Branch.

Details of the Order

The Company received an order dated June 15, 2026, from the Collector of Stamps (Additional District Magistrate, HQ/COS, Revenue Department) imposing stamp duty and penalty under the Indian Stamp Act, 1899, as applicable to the NCT of Delhi.

Background and Proceedings

  • Proceedings were initiated by the Authority under the Indian Stamp Act, 1899 for determination of stamp duty payable on the issuance/allotment of certain shares.
  • The Company received two Show Cause Notices: dated February 18, 2026 (for share allotment on November 1, 2021) and March 17, 2026 (for share allotment on August 4, 2022).
  • The Company responded to these notices, contending that it had duly discharged the applicable stamp duty and that the proceedings were not maintainable under Sections 9A(2) and 9A(3) of the Indian Stamp Act, 1899.

Order Contents and Financial Demand

The order, received on June 15, 2026, at 05:38 PM, adjudges the Company liable to pay:

  • Alleged deficit stamp duty: ₹1,00,25,820 (Rupees One Crore Twenty-Five Thousand Eight Hundred and Twenty Only)
  • Penalty: ₹1,50,00,000 (Rupees One Crore Fifty Lakh Only)
  • Total Demand: ₹2,50,25,820

Jurisdictional and Procedural Issues

The order pertains to share allotments purportedly made on August 2, 2022, January 31, 2024, March 8, 2024, and August 5, 2024, which were not the subject of the original Show Cause Notices (which only covered allotments on November 1, 2021, and August 4, 2022). Based on legal advice, the Company believes the order suffers from significant jurisdictional and procedural infirmities.

Legal Stance and Next Steps

The Company is taking appropriate legal advice to defend the matter and believes it has good grounds to challenge the demand. The Company is in the process of pursuing appropriate legal remedies to challenge the order.

Financial and Operational Impact

The Company does not expect any material impact on its financials, operations, or other activities arising from this order.