Madhav Copper Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
MCL · price
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Awaiting price reaction for this filing.
The company disclosed to the exchange a SEBI show cause notice received in February 2025 for delayed disclosure of a GST-related action. The original GST matter involved a search of the company's premises in July 2021 and a provisional attachment of its land, building, machinery, inventory and bank accounts over alleged wrongful Input Tax Credit claims for FY 2017-18 to FY 2021-22. The company filed an appeal in October 2023, and in September 2024 the SGST department issued an order removing all provisional attachments. The company states the financial impact was minimal and not material to operations.
For shareholders, the worst of the GST matter is already behind the company — all attachments were lifted in September 2024 and management calls the financial impact non-material. The ongoing item is the SEBI show cause notice for late disclosure, which may attract a procedural penalty but is unlikely to affect operations or stock price materially.