Copyright republicworld
Pune: The Pune Department of Registration and Stamps has announced that the alleged land transaction involving Amedea Enterprises, LLP, a company in which Parth Pawar, the son of Deputy Chief Minister Ajit Pawar, is a partner, will only be formally cancelled upon payment of roughly ₹43 crore in stamp duty and penalties. Amedea Enterprises, LLP, which recently requested the cancellation of the transaction after it became the focus of a significant political and financial controversy, is essentially bound by the registration department's requirement.The purchase agreement for a 40-acre parcel of land in Pune's Mundhwa-Koregaon Park neighbourhood is at the heart of the dispute. It is valued at ₹300 crore, but they claim the real value is much higher. Based on the original stamp duty, the penalty for the first non-payment, and the subsequent cancellation, the Department of Registration and Stamps has determined the total amount owed. The entire charge, which includes a 5% stamp duty, a 1% metro tax, and a 1% local body tax, amounts to approximately ₹21 crore (7% of ₹300 crore) for the initial ₹300 crore deal. Citing Section 25(B)(I) of the Maharashtra Stamp Act, officials stated that the initial stamp duty exemption granted based on the establishment of a data centre is invalid upon the cancellation of the deal. As a result, the business must pay the entire ₹21 crore of the initial unpaid tax plus an equal sum for the cancellation deed, for a total obligation of about ₹43 crore (plus an estimated 2% penalty).The directive comes days after Deputy CM Ajit Pawar publicly announced the cancellation of the land transaction in a bid to distance himself, assuring full cooperation with the government's high-level probe. "The deal has been cancelled, and no financial transaction took place," Mr Pawar stated. Although the cancellation procedure has begun, the Department of Registration and Stamps has made it clear that Amedia LLP must pay the full stamp duty and penalty before the transaction is officially invalid on government records.The state government has launched a high-level investigation into the alleged irregularities, including the initial registration of the sale deed with an incredibly low stamp duty payment, which has resulted from the entire incident and caused a political controversy. Regardless of the company's decision regarding the payment, the investigation will proceed.
