Delhi High Court Issues Interim Stay on Stamp Duty Dispute for E2E Networks Equity Issuance
The Delhi High Court has passed an interim order in a legal proceeding concerning a stamp duty matter related to the issuance of equity shares by E2E Networks Limited in dematerialized form. This ruling provides relief regarding the adverse order previously issued by the Office of the Collector of Stamps, Revenue Department, Government of NCT of Delhi.
The High Court directed that the operation of the disputed order from the Collector of Stamps shall remain stayed until the next hearing date, provided E2E Networks Limited deposits Rs. 1.25 crore with the Registry of the Hon'ble Court within one month.
Furthermore, the court mandated that the specified amount must be held in an interest-bearing Fixed Deposit Receipt (FDR) by the Registrar concerned. This order follows previous communication regarding the stamp duty adjudication related to the Company’s equity shares.
E2E Networks Limited stated that it is undertaking all necessary steps in line with the interim directions issued by the Hon'ble High Court and intends to continue pursuing appropriate legal remedies in this matter. The company confirmed it will keep relevant parties informed of any further material developments concerning the ongoing dispute.
E2E Stock Price Movement
E2E Networks Limited shares finished a robust trading day, settling at ₹542.50 after gaining 4.99% in post-market activity. The stock achieved a critical milestone by hitting its 52-week high and saw significant volume, closing on the day with 429,556 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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