The Court vide its order dated February 27, 2026 in respect of Writ Petition filed by Rathi Steel and Power Limited ("Company") has put a stay on recovery proceedings initiated by the office ....
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The Allahabad High Court has put a stay on recovery proceedings initiated against Rathi Steel & Power by the Deputy Commissioner of Ghaziabad under Section 74 of the GST Act, 2017. The tax demand was for ₹5.73 crore along with a penalty of a similar amount and applicable interest. The alleged issues relate to E-Way Bills and availing of ineligible or excess Input Tax Credit. The company filed a writ petition challenging the demand, and the court granted the stay on February 27, 2026. The company has stated that there will be no material impact on its financial, operational, or other activities.
This is a positive development for shareholders as the court has paused the recovery action, giving the company breathing room to contest the demand. However, the underlying tax liability still exists and the stay does not equate to a waiver, so the matter remains open and could weigh on the stock if the final ruling goes against the company.