2015 (12) TMI 571

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....s before the Respondent No.2 under the control of Respondent No.1. It should direct the Respondents to permit the increase in authorised share capital of the Petitioner Company as per the orders passed by BIFR dated 5th March 2007 and 26th August 2008 without the payment of the requisite fees. The other prayer is to set aside the communication which is an email dated 24th April 2011. 2. As far as second prayer is concerned, it relates to Respondent No.3 - State of Maharashtra, through the Principal Secretary, Revenue Ministry, Mantralaya, Mumbai 400 020. 3. The Respondent Nos.1 and 2 are exercising powers under the Indian Companies Act 1956 as amended from time to time whereas the Respondent No.3 exercises powers under the Maharashtra Sta....

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....t    Proper Stamp Duty 10. Articles of Association of a Company - (where the Company has no share capital) or nominal share capital or increased share capital    (0.2 per cent on share capital or increased share capital) as the case may be) (subject to a maximum of Rs. 50,00,000/-) 7. Mr Patwardhan, learned counsel appearing for the Petitioners submits that this is possibly the instrument which the State has in contemplation and in mind and which attracts stamp duty at 0.2% on share capital or increased share capital as the case may be subject to a maximum of Rs. 50,00,000/-. 8. Our attention is invited to section 9 of the Maharashtra Stamp Act 1958 and which reads thus : "9. Power to reduce, remit or comp....

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....in the meaning of section 18 of the Sick Industrial Companies (Special Provisions) Act 1985, the representative of the State was present or not and whether the Scheme was duly circulated and brought to the notice of the State Government. However, after taking instructions, Mr Patwardhan states that the Petitioners would make an application referring to the State's power under section 9 and invoke the same specifically so as to claim remission or compounding of the proper stamp duty on the instrument in question. 11. If such an application is made to the Government and addressed to the Principal Secretary, Revenue Department, Government of Maharashtra, the same shall be duly considered on its own merits and in accordance with law and a ....