NAeL Gets Waiver of Stamp Duty on Registration of land lease deed

Shri Shivendra Singh, Sub-Registrar, Department of Stamp & Registration, Allahabad handed over the bank guarantee of Rs 5.94 crores to Shri R.K. Mishra, CEO (NAeL) in the presence of Shri V.M. Chamola, Chairman (NAeL) against waiver of stamp duty on June 9, 2018. With an aim to save stamp duty applicable on registration of land lease deed signed with UP State Industrial Development Corporation, NAeL had deposited a bank guarantee of Rs. 5.94 Crores against waiver of stamp duty with an obligation of production commencement within three years. The Company created the necessary infrastructure, made registrations with statutory labour & commercial authorities and production started within a record time of six months from the day of takeover on February 1, 2017. Repeated inspections of NAeL were carried out by officials of Department of Stamp & Registration to ascertain the commencement of production much in advance.
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