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JC - Legal Updates - Maha Stamp Act - Increase in Cap

Legal Updates

24 Jan 2022

Maha Stamp Act - Increase in Cap

Maharashtra State Legislature has brought changes in Maharashtra Stamp Act, 1958 vide the following amendment Acts.

Maharashtra Stamp (Amendment) Act, 2021
Key change-
Cap on stamp duty in respect of security documents has been increased from INR 10 Lakh to INR 20 Lakh. In case of security being in favour of consortium of banks the same has been set at INR 50 Lacs.

Maharashtra Stamp (Second Amendment and Validation) Act, 2021
Key change-
The definition of ‘conveyance’ has been retrospectively amended to include the following-Order made by the Board for Industrial and Financial Reconstruction under section 18 or 19 of the Sick Industrial Companies (Special Provisions) Act, 1985, and order made by the National Company Law Tribunal under section 31 of the Insolvency and Bankruptcy Code, 2016, in respect of approval of resolution plan. Consequential changes have been made to the stamp schedule.



For any further information, please contact Mr. Ankit Sinha (ankit.sinha@jclex.com), Mr. Saurabh Sharma (saurabh.sharma@jclex.com), Ms. Rupul Jhanjee (rupul.jhanjee@jclex.com) or Ms. Teza Jose (teza.jose@jclex.com).