Deepak Nitrite Limited has informed the Exchange about General Updates
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty Smallcap 250 and 0.9 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Deepak Nitrite has received orders from the Chief Controlling Revenue Authority (CCRA), Gandhinagar in its appeal against two stamp duty orders passed by the Deputy Collector, Vadodara in September 2024. The CCRA has fully set aside one order involving stamp duty of ₹21 lakh and a ₹50,000 penalty, which is a positive outcome for the company. The second order involving stamp duty of ₹86.10 lakh and a ₹50,000 penalty has been remanded back to the Deputy Collector for reassessment based on documentary evidence. The original dispute dates back to 2014 and relates to stamp duty on Memorandum of entries for securing term loan and working capital facilities.
The ₹21 lakh order being cancelled is a clear relief. The ₹86.10 lakh matter is now under reassessment, meaning the financial outcome remains uncertain but the company has avoided immediate recovery action. Overall, this is mildly positive as one demand has been quashed and the other is being reviewed.