Tata Steel Limited received the Adjudication Order dated January 6, 2025, issued by the Collector of Stamps, Enforcement – I, Mumbai, Government of Maharashtra, according the Tata Steel’s exchange filing.
the Collector of Stamps, Enforcement – I, Mumbai, Government of Maharashtra under Section 39 of the Maharashtra Stamp Act, 1958 issued the Order imposing a penalty of ₹1,46,14,380/- on Tata Steel.
The penalty is towards the belated filing of stamp-duty application for necessary payment of stamp duty to the appropriate authority as per the provisions of Maharashtra Stamp Act, 1958
The Order relates to the adjudication of stamp duty payable by the Company towards implementing the Scheme of Amalgamation amongst The Tinplate Company of India Limited and Tata Steel Limited and their respective shareholders, as approved and sanctioned by the National Company Law Tribunal, Mumbai Bench on October 20, 2023.
Tata Steel is likely to make payments to the concerned authority.
