A question often arises as to whether the order under section 394 of the Companies Act or the combined order of the Court under sections 391 and 394 of that Act is an instrument and if ‘yes’, whether it conveys the properties from one company to another and whether the same would be liable to stamp duty in the case of amalgamations, mergers, demergers or reconstruction of companies taking place in the States where the same has not been specifically covered by the Stamp Act applicable to those States. This article examines in detail the legal matrix in this behalf punctuated with recent judicial precedents.  Documents Liable for Stamp Duty Under section 3 of the Indian Stamp Act, 1899 (‘the Stamp Act’), subject to the provisions of the Stamp Act and exemptions spelt out therein every instrument, mentioned in Schedule I appended to the Stamp Act, executed in India on or after the 1st Day of July 1899 is chargeable to dut ....