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Time of India

INR1,300 crore loans for INR100? Stamp duty notice to ArcelorMittal, banks.

INR1,300 crore loans for INR100? Stamp duty notice to ArcelorMittal, banks. Getty Images Synopsis ArcelorMittal India has been called for enquiry this month over allegations of stamp duty irregularities. Creditors of KSS Petron, a group company, have alleged irregularities in stamp duty payment in assignment of loans in the run up to its acquisition of Essar Steel under the IBC. By N SUNDARESHA SUBRAMANIAN 4 Mins Read, Jun 13, 2025, 05:55 PM IST SHARE THIS NEWS Close Font Size Abc Small Small Abc Normal Normal Abc Large Close A stamp duty dispute has erupted around a 2018 financial transaction involving global steel giant ArcelorMittal and a group of banks. The Collector of Stamps of Mumbai under Maharashtra government has issued a notice for enquiry over alleged irregularities in payment of stamp duty on a loan assignment transaction dating back to 2018. In October 2018, a group of lenders of KSS Petron (KSSPL) led by the State bank of India (SBI) had assigned dues