Karur Vysya Bank Ltd has informed BSE regarding "Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015".
KARURVYSYA · price
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Awaiting price reaction for this filing.
Karur Vysya Bank had received notices from the Income Tax Department to reopen its assessments for financial years 2020-21, 2021-22, and 2022-23. The bank challenged this by filing writ petitions at the Madurai Bench of the Madras High Court on September 22, 2025. On October 6, 2025, the court granted an interim stay in favour of the bank, pausing the reassessment proceedings. The bank says it has strong legal grounds to defend itself and does not expect any financial, operational, or other impact. The copy of the court order is awaited, and the bank will update exchanges as the case progresses.
Positive near-term for shareholders — the court stay protects the bank from any immediate tax liability or cash outflow linked to the disputed reassessment. Removes a short-term uncertainty, though the underlying tax dispute remains pending final resolution.