Proposed SCI Unit Demerger Exempted from Stamp Duty

30 Oct 2023 CW Team

The Indian government has announced that stamp duty will be waived for the demerger of Shipping Corporation of India's (SCI) unit. This exemption is aimed at facilitating the demerger process and ensuring its smooth and cost-effective execution.

The demerger of SCI's unit is a strategic move by the company to streamline its operations and create a separate entity that can focus on specific business areas. By doing so, SCI aims to enhance its efficiency and profitability, while also providing better value to its stakeholders.

The decision to exempt stamp duty on the demerger is in line with the government's commitment to promote ease of doing business, reduce unnecessary costs, and optimize the utilization of resources. Stamp duty is a levied tax on certain legal documents, including agreements, transfers, and sale deeds. The exemption from this duty will significantly reduce the financial burden on SCI during the demerger process.

This exemption is expected to attract more companies to consider similar restructuring initiatives, leading to increased efficiency and competitiveness across various sectors. It demonstrates the government's proactive approach in supporting businesses

Infrastructure Transport

07 Apr 2026

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..

Gujarat Pushes Biogas Growth With 193 Operational Units

Gujarat has operationalised 193 biogas plants across the state and is planning to add 60 more units as part of a broader push to scale up clean and sustainable energy solutions. The existing plants, established under various government-supported schemes, process organic waste including cattle dung and agricultural residue to produce biogas and a nutrient-rich slurry. The output is mainly used for cooking and other energy needs in rural and semi-urban communities, while also improving local waste management practices. The Gujarat Energy Development Agency (GEDA) is leading the initiative and is..