Karur Vysya Bank Ltd has informed BSE regarding "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 has filed an appeal before the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, against a demand raised by the Income Tax Department's Assessment unit. The demand relates to Assessment Year 2023-24, which corresponds to Financial Year 2022-23. This update is a continuation of the bank's earlier communication dated March 21, 2025. The bank states it has strong factual and legal grounds, supported by precedent orders from appellate authorities, and expects the entire demand to be set aside. The bank has explicitly stated there will be no impact on its financials, operations, or other activities.
Minimal near-term impact on shareholders — the bank is contesting a tax demand it believes is unjustified and expects full relief on appeal, with no expected hit to earnings or operations. Investors should monitor the appeal outcome for confirmation.