Announced Thu, 9 Jul · 17:42 IST
Stamp duty demand of about Rs 20 lakh from Gujarat authority
Regulatory & Legal View source PDF
RADIOCITY · price
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Price reaction · full curve 14 horizons · vs prior close
+2.2%1-day move
₹5.95
prior close
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base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————+2.2+2.0+1.2+0.8+0.7+0.2————
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AI summary
Music Broadcast received a demand notice from the Deputy Collector, Stamp Duty Valuation Organization in Ahmedabad for a stamp duty shortfall of Rs 2.85 lakh plus a penalty of Rs 17.10 lakh, totaling about Rs 19.95 lakh, under Section 68(2) of the Gujarat Stamp Act, 1958, related to a lease deed. The company is consulting advisors and evaluating legal remedies.
Likely market impact
Company is evaluating legal remedies; financial impact is stated to be limited to the demand of about Rs 19.95 lakh.