AdvertisementFerrous Alloy Forgings Pvt. Ltd. Vs State of Punjab and others (Punjab and Haryana High Court) The Punjab and Haryana High Court considered a writ petition raising a single legal issue: whether a sale certificate issued pursuant to a court auction is required to bear stamp duty before it can be issued to the auction purchaser. The dispute arose after M/s Punjab United Forge Limited was ordered to be wound up under the Companies Act, 1956. The Company Court permitted the Industrial Finance Corporation of India (IFCI) to sell the company’s mortgaged and hypothecated assets. In the auction,...