Aarti Drugs Limited has informed the Exchange about Action(s) taken or orders passed
AARTIDRUGS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 18.4 pts more than Nifty Microcap 250 and 19.2 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Aarti Drugs had received an order from the CGST & Central Excise Authority demanding around Rs 20.72 crore in alleged erroneous IGST refunds, along with interest and a matching penalty of Rs 20.72 crore, for the period FY 2017-18 to FY 2021-22. This was a reduced version of an earlier show cause notice proposing a demand of Rs 230.70 crore, of which Rs 209.98 crore was dropped. The company challenged this order by filing a writ petition in the Bombay High Court. On May 6, 2025, the court granted ad-interim relief, directing the CGST authority not to initiate any coercive action to recover the demanded amount. The company has stated it is difficult to assess the final financial impact until the matter is fully resolved.
This is a positive interim development for shareholders — coercive tax recovery has been temporarily blocked — but the underlying tax dispute remains open and could still translate into a financial liability depending on the final court ruling.