Zodiac Energy Limited has informed the Exchange about Action(s) initiated or orders passed
ZODIAC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 3.1 pts less than Nifty Microcap 250 and 2.5 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Zodiac Energy received a Show Cause Notice dated June 30, 2025 from the Assistant Commissioner of State Tax, Ahmedabad, alleging a demand for CGST, SGST, and IGST for FY 2018-19 along with applicable interest and penalties. The company has filed a Special Civil Application before the Gujarat High Court on March 3, 2026 seeking a stay on further proceedings, and on March 13, 2026 it also filed an appeal before the Deputy Commissioner of State Tax seeking to set aside and quash the demand. Notably, in a previous similar matter, the Gujarat High Court quashed a comparable Show Cause Notice on July 17, 2025, and the current case rests on identical facts and legal grounds, which supports the company's position. The disclosure itself was delayed due to internal administrative procedures.
This is a tax-related dispute, not a criminal or regulatory action, so direct impact on share price may be limited. However, the precedent of a favorable High Court ruling in a similar prior case is encouraging for shareholders. Investors should monitor the Gujarat High Court's decision, as an adverse outcome could mean additional tax, interest, and penalty outflows.