Shemaroo Entertainment Limited has informed the Exchange about Action(s) taken or orders passed
SHEMAROO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shemaroo Entertainment has informed the exchanges that the Bombay High Court has referred the legal questions in its writ petition to a Larger Bench for final adjudication. The dispute stems from a GST demand alleging inadmissible Input Tax Credit of Rs. 70.26 crores, along with an equal-amount penalty under Section 74(1) of the CGST Act, plus an additional Rs. 63.35 crore penalty under Section 122 of the CGST Act, 2017. The total potential exposure exceeds Rs. 130 crores. The Court has extended its earlier interim protection, meaning no coercive action (such as recovery or penalty enforcement) can be taken against the company until the Larger Bench decides the matter. The order was passed on April 17, 2026.
Positive in the short term — the company's interim shield from any recovery or penalty action continues, removing immediate financial pressure. However, the final outcome from the Larger Bench remains pending and a negative ruling could result in a sizeable financial hit given the Rs. 130+ crore potential exposure.