Bombay High Court quashes Grasim case over Rs 329 crore alleged income
GRASIM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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On 22 October 2026, the Bombay High Court quashed a 30 June notice proposing reassessment of Rs 329 crore of alleged unassessed income from Grasim's Vodafone Idea rights issue in FY 2019-20. It also ended the proceedings. Grasim said Rs 329 crore was not a tax demand; maximum potential tax was Rs 114 crore at 34.944 percent, below its disclosure threshold. The company reported no financial or operational impact and no disclosure lapse.
Positive: the potential tax case is quashed, reducing near-term uncertainty. No tax demand was finalised, and Grasim reports no financial impact.