Hon’ble Yatindra Singh, J.—The main question involved in these writ petitions is, ‘whether any stamp duty can be charged under. Article 23 of Schedule 1-B of the Indian Stamp Act (see Appendix-1) as applicable in our State (the U.P. Stamp Act) on the scheme of arrangement sanctioned by the court, which may be de-merger of a going concern with another company or amalgamation/merger of one company with another company.

2. The Indian Stamp Act has been amended by the different States. In order to distinguish the Acts as applicable in different States, I am prefixing the name of that State while referring to the Act as applicable in the State.

THE FACTS

WP 41811 of 2006 (Hero Motors case)

3. M/s Majestic Auto Limited (transferor company) is a public limited company, It has two units : one at Ghaziabad and another at Ludhiana. The unit at Ludhiana is manufacturing moped up to 72 cc. The unit at Ghaziabad is manufacturing moped beyond 72 cc. M/s Hero Motors Limited (the transferee company) is another public limited company manufacturing mopeds and scooters. The Board of Directors of these two companies proposed a scheme of arrangement by which Ghaziabad unit of the transferor compa