Bhubaneswar: The State Cabinet on Tuesday approved an amendment to the Industrial Policy Resolution 2022 to rationalise stamp duty on instruments executed pursuant to reconstruction, amalgamation, demerger or arrangement of companies.
The reform is expected to reduce the cost and uncertainty associated with corporate restructuring and facilitate mergers, consolidation, revival and transfer of industrial assets, the Industries Department said.
The benefit will apply to eligible schemes sanctioned under relevant provisions of the Companies Act, 2013 by competent authorities.
The measure will make acquisition and restructuring of stressed, defunct and underutilised industrial assets more viable. It will support faster revival of sick industrial units, continuity of operations and preservation of employment.
