PVP Ventures Limited has informed the Exchange about High Court Order
PVP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
PVP Ventures Limited informed exchanges that the Madras High Court has set aside a demand notice of approximately Rs. 12.43 crore issued by the Sub Registrar, Purasawakkam, Chennai, on 23 May 2025 related to stamp duty on a mortgage deed for the Ekanta Tower property. The court ruled that the demand was premature as no proceedings had been initiated under Section 47A or 33A of the Indian Stamp Act, 1899, which are the proper legal provisions for such demands. However, the court left the registration authorities free to issue a fresh notice under those proper legal sections and proceed after giving the company a hearing opportunity. The order was passed on 19 June 2025 and made available to the company only on 10 July 2025.
Positive for shareholders as a Rs. 12.43 crore demand has been set aside, but the matter is not fully closed since authorities can still pursue the case through proper legal channels, meaning some uncertainty remains.