Bigbloc Construction Limited — Others, 18-12-2024: Action(s) initiated or orders passed

BIGBLOC Construction Limited has received a demand notice from the Collector of Stamps, Mumbai, requiring payment of ₹43.67 cr as stamp duty and an additional penalty of ₹92.59 cr related to a scheme of arrangement involving land transferred from Mohit Industries Limited. The demand arises under the Maharashtra Stamp Act and relates to a previous demerger approved in February 2016. The company plans to contest the order, considering that the assessed market value of the property is disputed. This situation may create a potential risk for investors as it could impact the company’s cash flow and operational focus in the near term.