Akzo Nobel India Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Akzo Nobel India has informed exchanges about an Order-in-Appeal dated 17 July 2025 (received 31 July 2025) from the Telangana GST Commissioner of Appeals. The matter dates back to a Show Cause Notice from August 2023 raising a demand of ₹35.61 crores; in December 2023, the original authority had scaled this down to about ₹21.85 lakhs (₹19.87 lakhs tax + ₹1.98 lakhs penalty). The GST department then appealed against the relief of around ₹35.41 crores granted to the company. The Commissioner of Appeals has now upheld the department's appeal, reinstating the demand along with applicable interest and penalty. The company is allowed to make further submissions and is preparing its response within the stipulated timeframe.
Negative for shareholders — a previously favorable relief of ~₹35.41 crores has been reversed on appeal, exposing the company to a potentially large tax demand plus interest and penalty. The matter is not yet final, as the company retains the right to make further submissions, but the near-term overhang on the stock may increase.