Date: July 29, 2026
Regulatory Order Details
Authority: Office of the Superintendent of Stamps, Gandhinagar, Gujarat
Nature of Order: The company received an order dated July 22, 2026, regarding a Sale Deed executed in connection with the acquisition of certain assets from Sterling Biotech Limited, a joint venture company. The authority has determined the market value of the transferred property (including land, buildings, plant and machinery) at ₹ 1,542.60 million and concluded that additional stamp duty was payable.
Order Receipt Date: July 28, 2026 at 15:58 hours
Alleged Violations:
- Short payment of stamp duty due to differences in valuation of transferred assets
- Certain details relating to construction area and consideration were not fully reflected in registration documents
Financial Impact:
The order directs recovery of:
- Deficient stamp duty: ₹ 53.47 million
- Penalty under Rule 9 of Mumbai Stamp (Determination of Market Value) Rules, 1984: ₹ 53.47 million
- Penalty under Section 39(1)(b) of Gujarat Stamp Act, 1958: ₹ 1.60 million
- Total demand: ₹ 108.54 million
Company Response: The company is evaluating the order and appropriate legal remedies available to it.
Other Sections
Financial Results: Not Specified
Dividend Declaration: Not Specified
Board Meeting Outcomes: Not Specified
KMP / Board / Auditor Changes: Not Specified
Auditor's Report: Not Specified
Disinvestment / Strategic Actions: Not Specified
Media Release / Investor Communication: Not Specified