Tata Steel Limited has on December 30, 2024, received an adjudication order dated December 24, 2024, from the Collector of Stamps Enforcement - II, Mumbai, Government of Maharashtra. The order relates to adjudication of stamp duty payable by the Company towards implementing the Scheme of Amalgamation of Tata Steel Long Products Limited into and with Tata Steel Limited and their respective shareholders vide order dated October 20, 2023, passed by the Hon'ble National Company Law Tribunal, Mumbai Bench (`Hon'ble NCLT'). While, adjudicating the applicable stamp duty, the Collector of Stamps Enforcement - II, Mumbai has also imposed a penalty of INR 12,807,700/- on the Company.
The penalty is towards belated filing of stamp-duty application, in terms of the Hon'ble NCLT Order and as per the applicable provisions of Maharashtra Stamp Act, 1958. The penalty is towards belated filing of stamp-duty application, in terms of the Hon'ble NCLT Order and as per the applicable provisions of Maharashtra Stamp Act, 1958 The Company shall make the necessary payments to the concerned authority towards the penalty. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: The Adjudication order dated December 24, 2024, was received by the Company on December 30, 2024.
Details of the violations /contravention committed or alleged to be committed: Belated filing of stamp-duty application with the Collector of Stamps Enforcement, Mumbai, in terms of the Hon'ble NCLT Order and as per the applicable provisions of Maharashtra Stamp Act, 1958. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no impact on financial, operational, or other activities of Tata Steel Limited, arising from the said adjudication order.