CG Power and Industrial Solutions Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
CGPOWER · price
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CG Power has received a stay order from the Income Tax Department on 22nd August 2025 against a tax demand of Rs. 46.78 crores raised for Assessment Year 2021-22. The company had filed an appeal before the Income Tax Appellate Tribunal (ITAT), Mumbai, challenging the additions made in the Final Assessment Order. The stay is conditional on the company paying Rs. 42 crores in five instalments between 26th August and 25th December 2025, with the remaining 20% of the disputed demand payable as a sixth instalment by 25th January 2026. The balance tax demand stays on hold until the ITAT appeal is disposed of.
This is a relief for shareholders as the company avoids paying the full disputed demand upfront, though it must still pay Rs. 42 crores in instalments over the coming months. The actual financial impact will depend on the ITAT's final ruling on the appeal, which is currently pending.