This is further to our letter dated February 15, 2025, intimating about the receipt of the Order from the Office of the Principal Commissioner of Central Goods & Services Tax, Meerut for ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Maiden Forgings Ltd has received a favourable order from the Allahabad High Court, which admitted the company's writ petition and granted a stay against a GST demand order of INR 17.12 Crores issued by the Principal Commissioner of Central Goods & Services Tax, Meerut. The demand, along with penalty proceedings, had been challenged by the company following the original order received on February 15, 2025. The company stated it does not expect any financial implications from this matter. An update on the case has been disclosed under SEBI Listing Regulations.
Positive for shareholders — the stay provides relief from an INR 17.12 Crore GST demand and reduces near-term financial risk. The company's assertion of no expected financial impact may support sentiment, though the matter is still pending final resolution.