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%

2

(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

Printed and published by the Director, Printing, Stationery and Publication, Odisha, Cuttack-10

Ex. Gaz. 186-173+25