ALEMBIC PHARMACEUTICALS LIMITED Vs. CHIEF CONTROLLING REVENUE AUTHORITY

JUDGEMENT

(1.) THIS is a Reference under Section 54[1A] of the Gujarat Stamp Act, 1958, by which the following four questions have been referred to this Court.

(2.) BRIEF facts of the case may be narrated thus:

(3.) MR . S.N. Soparkar, the learned Senior Advocate appearing on behalf of the applicant, has, at the very outset, conceded that by virtue of the order of the High Court under Section 391 of the Companies Act, the transfer of interest was one of demerger and the same comes within the expression "reconstruction" within the meaning of the said Act and, therefore, falls within the charging part of Article 20(d) of Schedule -I of the said Act. Mr. Soparkar, in this connection, makes threefold alternative submissions.