Info Edge (India) Limited has received an order from the Collector of Stamps, Government of the NCT of Delhi, regarding the issuance and allotment of 400,000 equity shares. The order determines a stamp duty liability of Rs 17,83,990 along with a penalty of Rs 50,00,000. The company maintains that it had already paid the required stamp duty through the depository mechanism and is currently evaluating legal remedies to address the order.
Details of the Order
The penalty pertains to the issuance and allotment of 200,000 equity shares on April 11, 2022, and another 200,000 equity shares on December 2, 2022, to the Info Edge Employee Stock Option Plan Trust. The administrative order, dated May 11, 2026, asserts that the company is liable for additional stamp duty and a associated penalty, questioning whether payments made through depositories like NSDL/CDSL discharge the company’s statutory obligations under local laws.
Company Stance and Financial Impact
Info Edge has clarified that it had duly paid the stamp duty through the depository mechanism at the rates prevailing at the time of allotment. The matter centers on the legal interpretation of the Indian Stamp Act, 1899, and its specific applicability to share allotments within the NCT of Delhi. The company has stated that it does not expect any material impact on its financials, operations, or other activities arising from this development and is actively pursuing appropriate legal recourse to challenge the order.
Source: BSE
