Announced Mon, 27 Jul · 18:18 IST
E2E Networks gets interim stay from Delhi HC in stamp duty case; to deposit Rs 1.25 cr
E2E · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
E2E Networks told exchanges that the Delhi High Court has passed an interim order in the stamp duty matter. The Court directed that upon the company depositing Rs 1.25 crore with the Court Registry within one month, the Collector of Stamps order will stay till the next hearing. The amount will be kept in an interest-bearing FDR. The matter relates to stamp duty adjudication about issuance of equity shares in demat form.
Likely market impact
Positive: court has stayed the demand order. Minor cash outflow about Rs 1.25 crore with interest benefit on FDR.