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BOI shareholding appointment as sole agent to collect stamp duty on brokers turnover

April 4th, 2007

BSE Press Release

We are pleased to inform you that Government of Maharashtra (GOM) has authorised BOI Shareholding Ltd. (BOISL), to collect Broker Turnover Stamp Duty (Clearance List) w.e.f. April 1, 2007. BOISL will be the sole agent for collection of Clearance list for both the Stock Exchanges BSE & NSE.

In the year 2004, GOM has issued license of stamp duty franking to various vendors. BOISL was among the first vendors to procure license of franking of stamp duty documents and is providing its franking services to general customers. In 2006, BOISL was also authorised as the sole agent for franking of “Share transfer Deed” documents by GOM. BOISL is also authorised by GOM for sale of Judicial & Non-Judicial Stamp papers.

Considering the efficient service, excellent track record, expertise and past experience of BOISL, GOM has decided to assign the job of collection of turnover of stamp duty to BOISL once again. An agreement to this effect has been signed between the officials of GOM & BOISL on March 22, 2006.

In a small function organised by BOISL on April 4, 2007 in its premises, Shri K. R. Kamath, Executive Director, Bank of India inaugurated the services in presence of Shri Rajnikant Patel, Managing Director & CEO, BSE Ltd.  The Broker community was present at large along with senior officials of Bank of India, BSE Ltd., and Stamp Officials. The Chief Guest of the function was Shri Rajesh Narvekar, Superintendent of Stamps, Mumbai. It may be noted that BOISL which is a subsidiary of Bank of India in joint venture with BSE Ltd., has established itself as one of the leader in franking of stamp duty in various agreements, besides its core activity of functioning as a Clearing House of BSE Ltd.

April 4, 2007

For further information, pls. Contact:
Harshit Taskar
BOI Shareholding Ltd.
Mobile: 98198 04010
Tel. No.: 2272 3252

Entry Filed under: Equity Markets, BSE