mumbai- :“Lodha Group has contested the unjust and illegal order of the Collector of Stamps order related to our Wadala development and the Hon’ble High Court has immediately stayed the levy of penalty and interest. The HC has also asked us to file an appeal against the order before the competent authority along with deposit of the principal amount in 60 days.
We are pleased that our stand has been vindicated and will now approach the competent authority to explain the Supreme Court order in ICICI v. State of Maharashtra and convince them that the principal amount of stamp duty is payable at time of execution of lease deed, not agreement to lease.”
