Receipt of an order from the Office of Divisional Commissioner, Revenue Department: Stamp & Registration Branch, Government of National Capital Territory of Delhi

Urban Company received an order from the Collector of Stamp, Government of NCT of Delhi demanding stamp duty of Rs. 23.9 lakh plus a penalty of Rs. 25 lakh, totaling approximately Rs. 48.9 lakh, related to issuance of dematerialized shares in 2025. The authority claims stamp duty was payable under the Indian Stamp Act directly by the company, not just through the depository mechanism. The company clarifies it had already paid stamp duty through NSDL/CDSL as per Section 9A(1) of the Indian Stamp Act. The dispute involves interpretation of stamp duty provisions for dematerialized share issuance. Urban Company and several other companies have already filed writ petitions before the Delhi High Court, which is currently under judicial consideration.