Transfer of mining right in amalgamation.
Querist :
Anonymous
(Querist) 12 February 2011
This query is : Open
Dear all,
I am working in Rajasthan with a public limited company which is making cement and for that company having mining rights. My company is a part of group company and now my company's all assets and liabilities transfer in the name of group company,in the nature of amalgamation, Issue is of transfer of mining rights in the name of amalgamating company, Normally as per few decesions of Honable Gujrat court stamp duty should be payble is on Rs.100. But finance ministry of rajasthan asked for duty amt of 4% of market value of share given to transferor company by transferee company so anyone suggest me law or any case regarding this matter
