BHUBANESWAR: Odisha has eased stamp duty rules for companies undergoing mergers and restructuring. The State Cabinet approved an amendment to the Industrial Policy Resolution (IPR) 2022. The change rationalises stamp duty on instruments linked to corporate restructuring schemes. These include amalgamations, demergers, reconstructions, and other arrangements between companies.
Briefing the media after the meeting, Chief Secretary Anu Garg outlined the reform. She said it would sharply cut costs tied to corporate restructuring in the state. It would also reduce regulatory uncertainty for businesses, she added.
The concession will apply only to schemes sanctioned by competent authorities. Such approval must come under relevant provisions of the Companies Act, 2013.
The amendment seeks to encourage mergers and business consolidation in the state. It is also meant to ease the transfer of industrial assets. Acquiring stressed, defunct, or underused industrial assets is expected to become far more viable.
The policy further targets quicker revival of sick industrial units. It aims to keep businesses running and protect jobs in the region.
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