Grasim Industries receives a demand notice for Rs 141 crore from the Rajasthan stamp collector

23 Oct 2023 , 08:56 AM

The Rajasthan Stamps Collector sent Grasim Industries Ltd. a demand notice for Rs 141 crore for failing to pay stamp duty. 

According to the exchange filings, the business put off paying stamp duty of Rs 23.68 crore on a plan of arrangement between Indian Rayon and Industries Ltd. that was put into effect in FY99.

Due to the failure to pay the full stamp duty, the authorities assessed fines and interest. The business asserted in its defence that it is pursuing all necessary legal remedies. The filing stated that the financial impact on the company has not yet been established because the matter is still in litigation. 

One of the biggest listed firms in India is Grasim Industries, a flagship company of the Aditya Birla Group. The business, now 76 years old, began life as an Indian textile maker. 

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