Karnataka HC sets aside Rs 779.56 Mn tax demand on Aequs

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

AEQUS · price

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

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prior close

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announcement price

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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.5%+0.5% vs market

Aerospace & Defense peers, median of 22sector+0.3%-0.4% vs sector

On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.4 pts less than its Aerospace & Defense 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

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Aerospace & Defense peers, median of 22Pending

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

AI summary

Aequs informed that the Karnataka High Court has set aside an income tax assessment order dated September 2021 which had raised a demand of around Rs 779.56 Mn against the company for financial year 2017-18. Aequs had challenged the order through a writ petition filed in October 2021 and the court has now allowed the appeal.

Likely market impact

Positive. Removes a Rs 779.56 Mn tax liability overhang and strengthens investor confidence in the company.