Please find enclosed herewith intimation of Order for dropping the proceedings.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250 and 1.0 pts less than its Industrial Products 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.
Harish Textile Engineers has received an order from the Superintendent of CGST & Central Excise Commissionerate, Surat, dropping the proceedings that were initiated against it under Section 74 of the Central GST Act, 2017. The original show cause notice dated August 3, 2024, had been issued by the Surat tax authority. With the June 12, 2025 order, the matter is now closed and resolved. The company has stated there is no financial, operational, or other impact as a result of the closure.
This is a positive development for shareholders — the tax proceeding has been fully resolved in the company's favour with no financial liability. Removes an overhang that had been pending since August 2024 and is likely to be viewed neutrally to mildly positively by the market.