TeamLease gets interim order from Karnataka HC in GST penalty case

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

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₹1465.00

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-1.9% vs market

Diversified Commercial Services peers, median of 80sector+0.0%-1.1% vs sector

On the reaction day the stock moved 1.9 pts less than Nifty Microcap 250 and 1.1 pts less than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

TeamLease received an interim order dated June 17, 2026 from the Karnataka High Court on its writ petition challenging a CGST appeal order. The original order upheld a penalty of about Rs 32.29 crores over alleged issuance of invoices without supply of manpower services from July 2017 to July 2022. No tax demand has been raised. The matter is already disclosed as a contingent liability in FY25 financials.

Likely market impact

Legal fight continues in court. Rs 32.29 Cr penalty upheld but no tax demand yet and no immediate impact on operations or financials.