Bombay High Court sets aside Aarti Drugs tax order

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

AARTIDRUGS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+1.3%Reaction day

₹501.00

prior close

₹499.30

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.3%+1.5% vs market

Pharmaceuticals peers, median of 153sector-0.5%+1.8% vs sector

On the reaction day the stock moved 1.5 pts more than Nifty Microcap 250 and 1.8 pts more than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

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10m

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15m

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30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.3-0.3+1.5-0.5+1.8

Next day

+0.6-0.5+1.1-0.9+1.5

+1.2-0.3+1.5-0.2+1.4

+2.7+0.4+2.3+0.0+2.6

+1.5-0.2+1.7-0.5+2.1

+0.8-1.3+2.1-1.3+2.1

+4.4+0.2+4.2-1.1+5.5

15d

-1.0+2.0-3.0-0.8-0.2

-1.9+0.4-2.3-2.9+1.0

-20.5-6.5-14.0-6.9-13.6

-19.6-3.1-16.5-5.9-13.7

UpDownMarket · Nifty Microcap 250Sector · Pharmaceuticals peers, median of 153Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

On October 6, 2025, the Bombay High Court allowed Aarti Drugs' court challenge and set aside the tax authorities' order. The dispute concerned a proposed Rs 230.70 crore IGST demand for FY2018-22; the order sought Rs 20.72 crore, interest and an equal penalty, while dropping Rs 209.98 crore.

Likely market impact

Positive: the tax demand, interest and penalty were set aside, lowering financial and regulatory risk. Aarti Drugs reports no impact on operations.