Announcement Under Regulation 30 of SEBI (LODR) 2015
BGRENERGY · price
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Awaiting price reaction for this filing.
BGR Energy Systems has received two demand orders from the Office of the Asst./Dy. Commissioner of Central GST & Central Excise, Division-IV, Palghar Commissionerate, both dated April 1, 2025 and received on April 3, 2025. The orders pertain to FY 2018-19 (Rs. 18.70 lakhs) and FY 2019-20 (Rs. 63.63 lakhs), together totalling about Rs. 82.33 lakhs. The allegation is that the company wrongly availed ineligible Input Tax Credit (ITC) during these two financial years. The company has stated it plans to take legal action to seek suitable remedies against the orders.
The total demand of roughly Rs. 82 lakhs is not financially significant for the company, but the dispute adds a compliance overhang. Since the company intends to challenge the orders, the immediate cash impact is deferred, and any meaningful stock reaction is unlikely unless the legal challenge fails.