SG Mart Limited has received orders from the Office of the Collector of Stamps, Government of N.C.T. of Delhi, demanding a total payment of ₹1,89,38,990 regarding the adjudication of stamp duty on share issuances. The order, received on May 27, 2026, determines a liability of ₹88,38,990 along with a penalty of ₹1,01,00,000. This demand arises from a dispute concerning the rate of stamp duty applicable to the issuance of dematerialized shares under the Indian Stamp Act, 1899, as amended by the Finance Act, 2019.

The orders were passed under Sections 33, 38, and 40 of the Indian Stamp Act, 1899, and relate to the issuance of certain shares by the company in dematerialized form across FY 2023-24, FY 2024-25, and FY 2025-26. The company clarified that it had paid the stamp duty on such issuances in accordance with Section 9A(1) read with Article 56A of Schedule I of the Indian Stamp Act, 1899, through the depository mechanism prescribed by the Central Government.

Legal Proceedings

The matter originated from a circular issued during 2025 by the Additional District Magistrate, Collector of Stamps, Revenue Department, Delhi, which disputed the applicable stamp duty rates. SG Mart has already filed a writ petition before the Hon'ble High Court of Delhi regarding this issue, and the proceedings are currently under judicial consideration.

Financial Impact

The company stated that the financial impact of the order can only be assessed based on the outcome of the writ petition filed before the Hon'ble Delhi High Court. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In a regulatory filing dated April 3, 2026, SG Mart promoter Dhruv Gupta submitted a disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, declaring that no encumbrance has been created over the shares of SG Mart Limited during the Financial Year 2025-26. The declaration confirms that neither the promoter nor any other member of the Promoter/Promoter Group and/or Person Acting in Concert (PAC) has made any such encumbrance, directly or indirectly, other than those already disclosed, if any.

Promoter and Promoter Group Details

The disclosure identifies the members of the Promoter and Promoter Group of SG Mart Limited covered under this declaration. The following individuals are listed:

Regulatory Compliance

The filing was made in compliance with Regulation 31(4) of the SEBI (SAST) Regulations, which mandates promoters to declare, on an annual basis, whether any encumbrance has been created over their shareholding in the company. In accordance with Regulation 31(5) of the same regulations, the promoter has also requested the company to place this disclosure before the ensuing Audit Committee Meeting.

The disclosure was submitted to both the National Stock Exchange of India Limited and BSE Limited, and a copy was also forwarded to the Company Secretary and the Audit Committee of SG Mart Limited at its registered address at H No. 37, Ground Floor, Hargovind Enclave, Vikas Marg, East Delhi, Delhi, India – 110092.