E2E Networks Receives Order for ₹2.53 Crore Stamp Duty and Penalty
E2E Networks Limited received an order from the Collector of Stamps, GNCTD, for ₹1,27,92,189 in stamp duty and ₹1,25,00,000 as penalty, totaling ₹2,52,92,189. The dispute concerns stamp duty on dematerialized shares issued from 2021-2025. The company has filed a writ petition with the Delhi High Court.
The potential financial impact is significant (₹2.53 crore), but the final outcome is pending the High Court's decision, making the immediate impact uncertain.
The company has been ordered to pay a significant amount in stamp duty and penalty, which is a negative financial development.
E2E Networks Limited has received an order from the Office of Collector of Stamps, Government of NCT of Delhi, concerning the adjudication of stamp duty related to the issuance of dematerialized shares between 2021 and 2025.
The order, dated May 14, 2026, determines a stamp duty liability of ₹1,27,92,189 and a penalty of ₹1,25,00,000, totaling ₹2,52,92,189. This action arises from a dispute regarding the stamp duty rate applicable to dematerialized share issuance under the Indian Stamp Act, 1899, as amended by the Finance Act, 2019.
The company clarifies that it had paid stamp duty in accordance with Section 9A(1) read with Article 56A of the Indian Stamp Act, 1899, through the depository mechanism. E2E Networks has already filed a writ petition before the Hon'ble High Court of Delhi concerning this issue, and the proceedings are currently under judicial consideration. The impact of the order can only be assessed based on the outcome of this writ petition.
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