Industrialist Nusli Wadia and four companies, including Sahara Investment and Go Investment, have been asked to shell out Rs124.81 crore as stamp duty and penalty for a land agreement entered into in 2001 for large tracts of land in north Mumbai. But the industrialist has moved the Bombay high court and challenged the June 2008 notice issued to him by the state's stamp authorities.

On Monday, the High Court bench of chief justice Swatanter Kumar and justice Sharad Bobde adjourned the matter to February 3, 2009 by when the Maharashtra government and Collector of Stamps (enforcement) are likely to reply to the petition.

The Times of India