Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
Merchant banker regulation consolidates registration, governance, capital, reporting, outsourcing and investor-protection requirements under an update...
Levy of stamp duty on schemes of amalgamation or restructuring - The High court found that orders of the court sanctioning amalgamation/restructuring, along with the schemes appended to them, are instruments of conveyance under the existing legal framework, thus liable for stamp duty. - The court upheld the circular clarifying the levy of stamp duty on amalgamation schemes but partially invalidated a government order that introduced a new mode of computation for stamp duty based on share value, stating it required legislative action. - The court affirmed the validity of the retrospective application of reduced stamp duty rates, provided by a government order, as beneficial and within the state's power.
Levy of stamp duty on schemes of amalgamation or restructuring - The High court found that orders of the court sanctioning amalgamation/restructuring, along with the schemes appended to them, are instruments of conveyance under the existing legal framework, thus liable for stamp duty. - The court upheld the circular clarifying the levy of stamp duty on amalgamation schemes but partially invalidated a government order that introduced a new mode of computation for stamp duty based on share value, stating it required legislative action. - The court affirmed the validity of the retrospective application of reduced stamp duty rates, provided by a government order, as beneficial and within the state's power.
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