Bharat Heavy Electricals Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
BHEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.7 pts more than Nifty Midcap 150 and 1.6 pts more than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
BHEL has received a favorable order from CESTAT Delhi in a service tax dispute. The tribunal has quashed and set aside an earlier order from March 2022 that had imposed a service tax demand of Rs 26.94 crore along with applicable interest and an equal amount as penalty (totaling exposure of roughly Rs 53.87 crore). The dispute related to financial years 2015-16, 2016-17, and 2017-18 (up to June 2017) under sections 73/75/78 of the Finance Act 1994. With this order, BHEL has successfully mitigated its full exposure on this matter. No further action is required from the company except filing a refund claim for the pre-deposit already made.
Positive for BHEL shareholders — the company is relieved of a significant tax and penalty liability of around Rs 26.94 crore each in demand and penalty, removing a financial overhang from the stock.