What is the timeline for Revenue Department to determine stamp duty on mergers and debenture conversions in Delhi?
Shubham Budhiraja [1] In case-1 , Scheme of amalgamation approved by the NCLT. Thereafter, application was made to Divisional commissioner, Revenue Department, GNCTD seeking adjudication of stamp duty but till date stamp duty payable has not been adjudicated. Hence, writ petition filed seeking directions to the commissioner for adjudication of stamp duty. In case-2 , company has converted debentures into shares. It seeks issuance of stamp paper for share certificate. But despite requests, the commissioner till date has not issued any challan for purchase of stamp paper. Because of this, company is unable to comply section 56(4) of the companies act, 2013. i.e. delivery of share certificate within prescribed time. Because in both case-1 & case-2 , the scheme of stamp duty & debenture conversion deed, there is no pre-determined stamp duty, therefore application was filed under section 31 of Indian stamp act, 1899 for adjudication of proper stamp duty...