Court order sanctioning a scheme of amalgamation or demerger is an instrument and conveyance liable to stamp duty

Emami Biotech Ltd. and others Vs. State of West Bengal – Calcutta High Court [Company Application No. 777 of 2011] The Court held that an order sanctioning a scheme under section 394 of the Companies Act falls within the description of the words ‘instrument’ and `conveyance’ within the meaning of the West Bengal Stamp Act, 1964. Accordingly, it is subject to stamp duty. The Court also observed that no property transferred pursuant to any scheme in the State of West Bengal would be effective unless appropriate stamp duty is paid. This ruling may be relevant in the State...