SG Mart Limited has informed the Exchange about Action(s) initiated or orders passed
SGMART · price
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SG Mart Limited received orders from the Collector of Stamps, Government of NCT of Delhi, determining a stamp duty liability of Rs. 88,38,990 along with a penalty of Rs. 1,01,00,000, totaling Rs. 1,89,38,990. This relates to the company's issuance of shares in dematerialized form during FY 2023-24, FY 2024-25, and FY 2025-26. The company claims it had paid stamp duty as per Section 9A(1) of the Indian Stamp Act through the prescribed depository mechanism. A dispute has arisen regarding interpretation of stamp duty provisions for dematerialized share issuance. The company has filed a writ petition before the Hon'ble Delhi High Court, and the matter is under judicial consideration.
The company faces a potential financial liability of Rs. 1.89 crore, though this may be reduced or waived depending on the outcome of the ongoing Delhi High Court proceedings. The matter does not involve SEBI regulatory action and appears to be a technical legal dispute over stamp duty interpretation for electronic share transfers.