28 July 2009
As per 2(d) of the Bomabay Stamp Act as applicable to the State of Gujarat, stamp duty is payable on the Order of the High Court approving the Amalgamation. The stamp duty is calculated as 1% of the market value of the shares issued to the shareholders of the transferor company or the value of the immovable property transferred to the transferee company, whichever is higher.
Please refer the specific clause as mentioned above for detailed explanatory notes on various definitions and terms used in the section.
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