Bombay Dyeing & Mfg Company Limited has informed the Exchange about General Updates
BOMDYEING · price
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Awaiting price reaction for this filing.
Bombay Dyeing informed the exchanges that the Bombay High Court heard its amended Writ Petition on June 3, 2025, challenging a GST notice issued under Section 79(1)(c) of the Central Goods and Services Tax Act, 2017. The Court has granted a stay on the earlier order dated February 28, 2025, until the next date of hearing scheduled for June 16, 2025. The Company has been directed to deposit 10% of the tax demand and has already complied with this direction. This update follows the Company's earlier intimations dated March 1, 2025 and May 31, 2025 on the same matter.
Positive for shareholders in the short term as the company has secured interim relief from the GST order, but the matter remains pending in court. The 10% tax deposit creates a temporary cash outflow, and the final outcome will depend on the June 16 hearing.