Karur Vysya Bank Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) - Update
KARURVYSYA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Karur Vysya Bank has shared an update on an ongoing GST dispute. The matter relates to a Show Cause Notice under Section 73 of the GST Act, 2017 for FY 2020-21, issued by the State Tax Officer in Erode. A court hearing scheduled for June 24, 2025 was not listed and will now be taken up only after the tax department files its counter affidavit. The interim stay granted by the Madras High Court on February 14, 2025 continues until further orders. The bank has stated that it does not expect any material financial impact from this notice.
Neutral to mildly positive for shareholders, as the existing court protection remains in place and the bank has indicated no material financial implications. The delayed hearing simply pushes the matter further out without an immediate adverse outcome.