Bigbloc Construction Limited — Others, 16-01-2025: Action(s) initiated or orders passed

Starbigbloc Building Material Limited has received an order from the Collector and Additional Superintendent of Stamps, Gujarat, mandating the payment of ₹1,84,03,779 (1.84 crore) for stamp duty and penalties. This relates to a 2018 transaction involving the acquisition of Hilltop Concrete Private Limited. The management asserts that the necessary stamp duty was previously paid as this transaction was classified as a share purchase, not an asset transfer. The company plans to challenge this order, suggesting a potential risk to operations but expressing confidence in its legal stance, which may provide a positive outlook for investors.