Sanjay Bumbroo

Tribune News Service

Mohali, June 7

Eyebrows are being raised over the transfer of 120 acres of land in two villages of Mohali district allegedly without paying the stamp duty, causing a loss of several crores to the state exchequer.

The Mohali Deputy Commissioner has marked an inquiry into the case and told the Additional Deputy Commissioner (General) to submit a report by Thursday.

As per the information, 120-acre land in two villages of Bairampur and Manak Majra in Mohali district has been transferred from Emaar MGF to MGF Developers in pursuance of demerger of companies as per the scheme of arrangement approved by the National Company Law Tribunal (NCLT) in its 2018 judgment.

Sources said MGF had filed an application to the Mohali Sub Divisional Magistrate on March 16, which was sent to the tehsildar for further action. The then tehsildar had kept the case file pending for legal verification. She had also raised objections over the non-payment of stamp duty by MGF Developers.

During the pendency of the case, the then tehsildar was transferred and the land was transferred to MGF Developers by creating a new case file. When the DC asked the District Revenue Officer (DRO) to submit his report, the latter in his reply, seeking action in the case, had stated that a parallel file had been created to transfer the land, while the original case file was pending.

The DRO had further quoted the NCLT order: “While approving the scheme, we further clarify that this order shall not be construed as an order in any way granting exemption from payment of stamp duty, income tax, GST or other charges, if any, and payment in accordance with law in respect of any permission/ compliance with any other requirement which may be specifically required under any law.”

Further, the scheme of arrangement approved by the NCLT said: “All agreed costs (including without limitation transaction costs, taxes, stamp duties) of the reorganisation will be borne by the demerged company and resulting company as agreed.”

MGF officials did not respond to the repeated calls made by this reporter.

Deputy Commissioner Girish Dayalan said: “I have marked an inquiry into the case. Further action will be taken if the report finds any loss to the state exchequer.”

Parallel file created to ‘avoid’ payment

• In Bairampur and Manak Majra villages of Mohali, 120-acre land has been transferred from Emaar MGF to MGF Developers in pursuance of demerger of companies
• Sources say MGF filed an application March 16, which was sent to the tehsildar, who objected to the non-payment of stamp duty
• The tehsildar was shifted and the land was transferred by creating a new case file. The revenue officer said a parallel file was created to transfer the land, while the original case file was pending