EXTRAORDINARY
PUBLISHED BY AUTHORITY
No. 855 CUTTACK, WEDNESDAY, MAY 15 , 2019 /BAISAKHA 25, 1941
REVENUE & DISASTER MANAGEMENT DEPARTMENT
ORDER
The 14th May, 2019
S.R.O. No. 173/2019— In exercise of the powers conferred by clause (a) of sub- section (1) of Section 9 of the Indian Stamp Act, 1899 (2 of 1899) and in supersession of the Revenue & Disaster Management Department Order No.29850–Stamp- 1/2015/R&DM., dated the 19th October, 2015, published in the Extraordinary issue of the Odisha Gazette No.1573 vide S.R.O. No. 544/2015, dated the 17th November, 2015, the State Government do hereby remit the stamp duty payable under the said Act, in respect of the instruments specified in column (2) of the Schedule below to the extent specified in column (4) basing on the recommendations of the authorities specified in column (3) on the body of the instruments so presented at the time of execution.
SCHEDULE
| Sl. No. | Description of Instruments | Authority | Extent |
| (1) | (2) | (3) | (4) |
| 1 | Deed executed for Lease or Agreement to Lease of land between Government and IDCO or Government / IDCO and private Industrial Estate Developers. | Managing Director, IDCO | 100% |
| 2 | Deed executed for Lease or Agreement to Lease of land or shed by the Government, IDCO and Private Industrial Estate Developers to new Industrial Units and existing Industrial Units taking up expansion, modernization and diversification. | ||
| (a) Micro & Small Sector | G.M., DIC being counter signed by Director of Industries. | 75% | |
| (b) Medium Sector | G.M., DIC being counter signed by Director of Industries. | 50% | |
| (c) Large Sector | Managing Director, IPICOL. | 25% |
| (1) | (2) | (3) | (4) | |
| (d) Priority Sector | G.M., DIC being counter signed by Director of Industries. | 100% | ||
| 3 | Lease or Agreement to Lease Deed executed for reconstruction and amalgamation of companies when sanctioned by the Court under section 394 of the Companies Act provided it falls within the following norms, viz; where- | |||
| (a) At least 90% of the issued share capital of the transferee company is in the beneficial ownership of the transferor company or | Registrar of Companies with countersignature of Special Secretary or Addl. Secretary or Joint Secretary to the Government, Industries or MSME Department. | 100% | ||
| (b) The transfer takes place between a parent company and a subsidiary company one of which is the beneficial owner of not less than 90% of the issued share capital of the other, or | -do- | 100% | ||
| (c) The transfer takes place between two subsidiary companies of each of which not less than 90% of the share capital is in the beneficial ownership of a common parent company. | -do- | 100% | ||
| 4 | Lease or Agreement to Lease Deed executed for loan agreements, credit, mortgages and hypothecation by the Industrial Units in favour of banks or financial institutions. | G.M., DIC with counter signature of Director, Industries. | 100% |
N.B: The Industrial unit that has availed this incentive under any Scheme of the State Government or the Central Government or any Financial Institution(s), shall be eligible for the differential amount of benefit only.
[No.13963– RDM-Reg-STAMP-0005/2019/ R&DM.]
By Order of the Governor
NIKUNJA B. DHAL
Principal Secretary to Government