Announced Fri, 24 Jul · 16:32 IST
GST penalty of Rs 10.61 crore upheld; company moves Gujarat High Court
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-17.4%1-day move
₹16.82
prior close
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base price
After-mkt
timing
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AI summary
Central GST authority imposed a Rs 10.61 crore penalty on the company via order dated Feb 3, 2025. The company appealed, but Commissioner (Appeals) upheld the penalty on Oct 29, 2025. Company has filed a writ petition in Gujarat High Court on Feb 27, 2026, which is pending. The disclosure to BSE was delayed due to internal review.
Likely market impact
Negative: Rs 10.61 crore penalty upheld at appellate level. Further litigation continues but outcome uncertain. May pressure financials if penalty holds.