Ashoka Buildcon Limited has informed the Exchange that Goods & Service Tax Department, Mumbai, Maharashtra has served a notice for Search & Seizure operations at the office premises of the Company at Nashik on June 11, 2025.
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On June 11, 2025, the Goods & Service Tax Department, Mumbai, conducted a search and seizure operation at Ashoka Buildcon's Nashik office premises. The notice was served under Section 67 of the Maharashtra GST Act, 2017 by the Assistant Commissioner of State Tax (Investigation – B), Mumbai. The company has disclosed this to the stock exchanges as a regulatory compliance update under SEBI Listing Regulations. As per the filing, the search is still ongoing, normal business operations remain unaffected, and the financial impact cannot be determined at this stage.
The immediate financial and operational impact appears limited as the company states no disruption to normal business. However, the outcome of the search could lead to potential tax liabilities or penalties, which may affect future earnings if violations are found. Short-term stock price may see mild negative sentiment due to the tax enforcement action.