Info Edge Faces Rs 67.83 Lakh Liability and Penalty Over Stock Option Shares
Info Edge (India) Limited has received an order from the Collector of Stamp, Government of NCT of Delhi, determining significant stamp duty and imposing a penalty related to the issuance and allotment of employee stock options. The liabilities pertain to shares issued to the Info Edge Employee Stock Option Plan Trust across two dates: April 11, 2022, and December 2, 2022.The order, received on May 11, 2026, was passed under Sections 33, 38, and 40 of the Indian Stamp Act, 1899. The matter centers on the required stamp duty payable in the National Capital Territory of Delhi for the transfer of 200,000 equity shares on each of the specified dates.
The details of the determined financial liability are summarized below:
| Description | Stamp Duty Liability | Penalty Imposed |
|---|---|---|
| Info Edge Stock Option Shares (April 11, 2022 & December 2, 2022) | Rs 17,83,990/- | Rs 50,00,000/- |
| Total Combined Liability | Rs 17,83,990/- | Rs 50,00,000/- |
The total penalty and duty liability stands at Rs 67,83,990/-.
The dispute arises from the Collector of Stamps alleging that the payment of stamp duty solely through depository mechanisms, such as NSDL/CDSL, at the prevailing rates was insufficient to discharge the company's statutory liability under the law applicable in NCT of Delhi. Info Edge stated that it had duly paid stamp duty through the depository system at the applicable rates at the relevant time.
Info Edge (India) Limited confirmed that it is evaluating appropriate legal remedies against the order. The company stated that it does not anticipate any material impact arising from this order on its financials, operations, or other activities.
NAUKRI Stock Price Movement
Info Edge (India) Limited shares today slipped by 2.99% to close at ₹930.9, settling at its 52-week low. The equity closed on heavy selling volume, with total traded shares reaching 1.80 million.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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