Bihar notice seeks Rs 16.56 cr SGST reimbursement recovery

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REGAAL · price

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Price reactionminutes from the announcement price · days from the prior close

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₹88.30

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-1.6%+1.8% vs market

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Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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AI summary

Regaal Resources got a notice from Bihar's Director of Industries seeking recovery of an additional Rs 1.66 cr in SGST reimbursement, on top of an earlier Rs 14.90 cr demand, totalling Rs 16.56 cr for April 2019 to December 2024, plus 18 percent annual interest. The company may recover Rs 11.48 cr from distributors who allegedly misused SGST credits. Company is reviewing and plans legal action.

Likely market impact

Potential liability of Rs 16.56 cr plus 18 percent interest if not reversed on appeal. Company to contest and partly recover from distributors.