Kirloskar Brothers Limited has informed regarding Update on Writ Petition challenging the notice under the APGST Act, 2017
KIRLOSBROS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kirloskar Brothers Limited has received an interim stay from the Andhra Pradesh High Court at Amaravati against GST recovery proceedings. The tax demand of Rs. 15,48,02,928 (for FY 2017-18) was raised by the Andhra Pradesh State Tax Department on a joint venture (IVRCL-KBL-MEIL) that executed a project for the AP Water Resources Department. The company had filed a Writ Petition on August 12, 2025 challenging the demand, and the High Court granted the stay on August 20, 2025, protecting the company from immediate recovery action.
Positive for shareholders — the court stay provides immediate relief from a tax demand of roughly Rs. 15.48 crore and prevents enforcement action while the writ petition is heard. The underlying matter remains pending, so the stay could be vacated later, but near-term financial risk is reduced.