Company penalized for shortfall in stamp duty on Shareholding change

On June 20, 2025, R Systems International Limited issued a regulatory filing to the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), informing them that it had received a direction dated June 19, 2025, from the District Magistrate’s Office, Gautam Buddha Nagar on June 20, 2025. The direction was communicated to the company on June 20, 2025, and asks the company to deposit a total amount of Rs. 1,612,991 (including short fall in stamp duty of Rs. 645,200, and penalty of Rs. 645,200) with respect to shortfall in stamp duty on registration of the Change in Shareholding Deed dated November 09, 2023.

The R Systems International Limited has issued the regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 (“SEBI Circular”).

The issue arose when the company, R Systems, registered a “Change in Shareholding Deed” on November 9, 2023, which recorded changes in the share ownership of the company. When these documents were submitted at the Sub-Registrar office in Gautam Buddha Nagar, it was discovered that the company had paid less stamp duty than that of actually required. These mistakes were detected under the rule of the Indian Stamp Act, 1899, read with Uttar Pradesh Stamp (Sampatti Ka Mulyankan Niyamawali) 1997.

The authority has now asked the company to pay the remaining stamp duty along with a penalty. R Systems International Limited has clarified that this action does not impact their financial condition, business operations, or daily functioning in any way.

This information is shared by the company to meet the rules set by SEBI (the stock market regulator) in a circular dated November 11, 2024. According to this rule, it is necessary for the company to report legal and regulatory issues to the stock exchange in a specific format. This filing ensures transparency, investor protection, and market integrity.