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Zydus Lifesciences Ordered to Pay Deficient Stamp Duty, Fines for Asset Acquisition

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Zydus Lifesciences (NSE:ZYDUSLIFE, BOM:532321) has been ordered to pay an amount of 108.5 million Indian rupees in deficient stamp duty related to the acquisition of land, building, plant, and machinery assets from Sterling Biotech.

The amount, comprising a deficient stamp duty of 53.5 million rupees and penalties of 55.1 million rupees, has been ordered by the Office of the Superintendent of Stamps, Gandhinagar, Gujarat, according to a Wednesday Indian bourse filing.

The order came after the authority determined the market value of the assets was higher than the value adopted for stamp duty purposes.

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