Intimation under Regulation 30 of SEBI (LODR) Regulation, 2015_ Withdrawal of Recovery notice issued by Department of Commercial Taxes

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-1.4%Reaction day

₹479.00

prior close

₹473.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.2%-2.6% vs market

Industrial Products peers, median of 104sector+0.3%-1.8% vs sector

On the reaction day the stock moved 2.6 pts less than Nifty Microcap 250 and 1.8 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.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.1

10m

+0.6

15m

+0.4

30m

+0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4+1.2-2.6+0.3-1.8

Next day

-0.6+0.1-0.7-0.6-0.0

+7.3+0.9+6.4-0.5+7.8

+3.1+0.8+2.4-0.6+3.8

+5.8+1.4+4.4+0.5+5.3

+7.6+2.0+5.6-0.1+7.7

+11.7+2.3+9.4-0.1+11.8

15d

+9.5+5.2+4.4+3.1+6.4

+5.4+1.6+3.9-0.0+5.5

+5.2+7.7-2.5+5.1+0.1

-15.2+4.0-19.2-1.1-14.1

UpDownMarket · Nifty Microcap 250Sector · Industrial Products peers, median of 104Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Josts Engineering Company informed BSE that a recovery notice recently issued against it has been withdrawn by the Karnataka Department of Commercial Taxes. The notice, issued on May 15, 2025, directed HDFC Bank to attach or block the company's bank accounts under Section 79 of the CGST Act, 2017, for an amount of Rs. 50.65 lakhs. Importantly, this demand was not against the company itself but related to alleged tax dues of a third party, M/s. Paladiaon Network Private Limited. Just one day after the original intimation, the Deputy Commissioner of Commercial Taxes formally withdrew the recovery notice on May 16, 2025. The matter has been resolved without any bank account freeze or financial disruption to the company.

Likely market impact

Positive for shareholders — the potential bank account attachment risk has been swiftly removed, and the underlying liability was that of a third party, not the company. Minimal impact expected on stock price as the issue was resolved almost immediately.