2022 (1) TMI 1469

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....Vashi, Senior Advocate, i/b MP Vashi & Co For the Respondent : Mr SS Panchpor, AGP ORDER 1. The dispute is in a very narrow compass. We believe it can be disposed of at the stage of admission itself. 2. Rule. Respondents waive service. By consent, Rule is made returnable forthwith and the matter is taken up for hearing and final disposal. 3. The facts are that the Petitioner, a limi....

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....dha Committee was Rs. 83,28,960/-. Evidently, the Petitioner's bid was much higher than the reserve price. 4. On 19th April 2017, the Petitioner paid Rs. 33,31,584/-, 25% of the bid amount. It then paid the balance. On 8th August 2018, SEBI informed the Respondent, the State of Maharashtra that the Petitioner had purchased this land at the price mentioned earlier. SEBI issued a Sale Certifi....

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....ctor of Stamps assessing the market value of the property since the Supreme Court- appointed Justice RM Lodha Committee had already accepted the market value. 6. We are in agreement with Mr Vashi, learned Senior Counsel for the Petitioners, that in the facts and circumstances of the case, there is no question of the stamp authorities independently reassessing the market value of the land and bu....

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.... value to be accepted is Rs. 1,66,57,920/-. The stamp duty on this is Rs. 9,99,475/-. There is no question therefore of allowing the stamp authorities to demand any other amount. There is certainly no question of a penalty. 8. Rule is accordingly made absolute in terms of prayer clauses (a) and (b) which read as under. "a. That a writ of mandamus or any other writ, order or direction b....