<h1>Music Broadcast Ltd Receives Demand Notice for Stamp Duty and Penalties on Lease Deed</h1>
Music Broadcast Limited has received a demand notice from the Deputy Collector, Stamp Duty Valuation Organization, Division-2, Ahmedabad, regarding the payment of stamp duty along with fines and penalties related to a lease deed executed by the company. The communication was received via speed post on July 08, 2026.
The authority demanded payment based on Section 68 (2) of the Gujarat Stamp Act, 1958. The notice details allege a shortfall in stamp duty concerning the aforementioned lease deed.
In relation to this demand, the Deputy Collector's order specifies the following financial requirements:
| Financial Component | Amount Demanded |
|---|---|
| Stamp Duty Payment | ₹ 2,84,990/- |
| Fines and Penalty | ₹ 17,09,940/- |
| Total Aggregate Demand | ₹ 19,94,930/- |
The company stated that it is currently examining the matter in consultation with its legal advisors. The management noted that the impact of the demand is limited to the specified amount and will provide updates on the situation in due course.
RADIOCITY Stock Price Movement
Shares of Music Broadcast Limited shed value today, settling in post-market trading after closing down 0.50% at ₹5.97. The equity traded within a daily range between a low of ₹5.86 and a high of ₹6.19 during market hours.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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