Legal & Regulatory

Bajaj Electricals Legal & Regulatory

Bajaj Electricals Limited received an adverse GST Appeal Order confirming a demand of ₹3.45 Crore, including a ₹31.53 Lakh penalty for FY 2018-19. The demand relates to alleged short payment of tax. The company is evaluating legal options, including a tribunal appeal or writ petition, noting no material impact on operations.

Value

₹3.45 Cr

Zydus Lifesciences Legal & Regulatory

Zydus Lifesciences received a favorable order from the GST Adjudication Authority, Gandhinagar, dropping a tax demand of ₹4.18 Crore for FY 2019-20. The company noted the event is not material under SEBI regulations and was disclosed as a good governance practice.

Value

₹4.18 Cr

Libas Consumer Products Legal & Regulatory

The Bombay High Court issued a Non-Bailable Warrant against Riyaz Ganji, Promoter and MD of Libas Consumer Products Limited, for non-appearance at a hearing. The court has directed Mr. Ganji to appear at the next hearing scheduled for April 27, 2026. This pertains to an ongoing matter involving G S Majestic Developers Pvt. Ltd.

Regency Ceramics Legal & Regulatory

Regency Ceramics Limited received a favorable judgment from the Principal District Court, Puducherry, in its dispute with National Insurance Company. The court modified an arbitral award to ₹133.31 Crore in favor of the company. This legal victory is expected to significantly strengthen the company's financial position.

Value

₹133.3 Cr

Tirupati Sarjan Legal & Regulatory

Tirupati Sarjan Ltd received four Income Tax demand notices totaling ₹18.13 Crore for various assessment years between 2016-17 and 2020-21. The demands relate to additions of unexplained expenditure and cash credits. The company intends to file appeals against these orders before the Appellate Authority.

Value

₹18.13 Cr

Ahluwalia Contracts (India) Legal & Regulatory

Ahluwalia Contracts (India) Ltd received an administrative warning letter from SEBI for failing to hold Risk Management Committee meetings within the mandated 180-day interval. The company acknowledged a 270-day gap between two 2023 meetings and committed to future compliance. This regulatory warning highlights a lapse in corporate governance reporting.

Tirupati Sarjan Legal & Regulatory

Tirupati Sarjan Ltd received four income tax demand notices totaling ₹18.13 Crore under Section 156 for multiple assessment years. The demands relate to unexplained expenditure and cash credits. The company intends to appeal these orders before the Appellate Authority, citing that the initial filing delay was due to administrative oversights during financial year-end activities.

Value

₹18.13 Cr

Matrimony.com Legal & Regulatory

Matrimony.com Ltd has received GST penalty orders totaling ₹10.24 Crore from authorities in Tamil Nadu, Karnataka, Kerala, and Maharashtra. The penalties relate to ITC and ISD discrepancies between 2019 and 2023. The company intends to contest these orders through legal appeals and maintains there is no material financial impact.

Value

₹10.24 Cr

V-Guard Industries Legal & Regulatory

V-Guard Industries received a GST audit report alleging a short payment of ₹17.76 Crore for FY 2020-21 to 2023-24. The issues relate to inadmissible or excess Input Tax Credit (ITC) and GSTR-9 reconciliation differences. The company intends to challenge the findings, noting this is not yet a formal demand order.

Value

₹17.76 Cr

V-Guard Industries Legal & Regulatory

V-Guard Industries received a customs order imposing a total financial demand of ₹3.75 Crore, including differential duty, interest, and penalties for product misclassification between 2019 and 2024. The company is evaluating the order's merits and plans to file an appeal before the CESTAT.

Value

₹3.75 Cr

Panacea Biotec Legal & Regulatory

Panacea Biotec Ltd has received a rectified Assessment Order for AY 2016-17 from the Income Tax Department. The order successfully nullifies the previous tax demand of approximately ₹10.23 Crore, determining the company's final tax liability as Nil. This rectification removes the potential financial liability and has a positive impact on the company's financials.

Value

₹10.23 Cr

Panacea Biotec Legal & Regulatory

Panacea Biotec Limited received a rectified Assessment Order from the Income Tax department for AY 2015-16. The rectification successfully nullifies a previous tax demand of approximately ₹45.71 Crore, resulting in Nil tax liability. This correction of errors regarding disallowances and losses provides a significant positive financial impact for the company.

Value

₹45.71 Cr

Himalaya Food International Legal & Regulatory

Himalaya Food International is filing a Notice of Arbitration against Simplot at SIAC, seeking ₹72 Crore in damages for non-return of machinery. The dispute relates to production losses for FY21 and FY22. The company aims for a resolution within the current financial year, potentially through a global settlement.

Value

₹72.00 Cr

Execution

within the current financial year

Star Housing Finance Legal & Regulatory

Star Housing Finance Limited reported a suspected phantom loan book fraud of ₹120 Crore to the National Housing Bank. The findings followed a snap audit by the NHB. The company is appointing independent auditors for a thorough external investigation to establish the facts regarding these suspected findings.

Value

₹120.0 Cr

Kolte-Patil Developers Legal & Regulatory

Kolte-Patil Developers received a GST demand order of ₹58.23 Crore (including interest and penalties) for FY 2019-20 from Maharashtra state tax authorities. The company believes the demand is arbitrary and unsustainable, and plans to take appropriate legal action. No material impact on financials or operations is currently expected.

Value

₹58.23 Cr

Gaudium IVF And Women Health Legal & Regulatory

Gaudium IVF and Women Health Limited announced that the Bombay High Court has disposed of a Commercial Arbitration Petition filed by Neomile Corporate Advisory Limited. Mr. Justice Nitin Jamdar has been appointed as the Sole Arbitrator. The dispute relates to alleged IPO advisory services and has no immediate financial implication.

Gaudium IVF And Women Health Legal & Regulatory

Gaudium IVF and Women Health Ltd informed that the Bombay High Court has disposed of an arbitration petition filed by Neomile Corporate Advisory regarding IPO services. Former Chief Justice Nitin Jamdar has been appointed as the Sole Arbitrator. The company stated there is currently no financial implication from these proceedings.

Aditya Birla Real Estate Legal & Regulatory

Aditya Birla Real Estate received a GST demand and penalty order totaling ₹1.69 Crore from the CGST authority, Dehradun. The order relates to alleged ineligible Input Tax Credit for the period April 2019 to March 2024. The company intends to contest the demand via an appeal and expects no material financial impact.

Value

₹1.69 Cr

Zydus Lifesciences Legal & Regulatory

Zydus Lifesciences Limited received a favourable order from the GST Adjudication Authority in Gandhinagar. The order dropped a GST demand of ₹4.18 Crore (Rs. 41.77 million) for the financial year 2019-20. This positive regulatory outcome reduces the company's potential tax liabilities.

Value

₹4.18 Cr

Aban Offshore Legal & Regulatory

Aban Offshore Ltd provided an update on NCLAT proceedings regarding its Corporate Insolvency Resolution Process. The Tribunal noted the rejection of an OTS proposal by Punjab National Bank and directed the impleadment of the Resolution Professional, Mr. Shailesh Desai. The next hearing is scheduled for April 10, 2026.

Amarjothi Spinning Mills Legal & Regulatory

Amarjothi Spinning Mills Ltd's board reviewed a fine levied by BSE for delayed compliance with Regulation 34 during Q3 2025. The company confirmed the fine was paid on November 7, 2025. Management has been advised to strictly monitor and adhere to all regulatory timelines in the future.

Utkarsh Small Finance Bank Legal & Regulatory

Utkarsh Small Finance Bank filed a joint second motion petition with the NCLT, Prayagraj, seeking sanction for its Scheme of Amalgamation with Utkarsh CoreInvest. This follows the prior approval of the scheme by equity shareholders and unsecured creditors.

Mehta Integrated Finance Legal & Regulatory

Mehta Integrated Finance Ltd received a favorable order from the Ahmedabad Commercial Court to freeze shares and accrued dividends of judgment debtors, including Radhe Developers India Ltd. The order prevents the transfer or alienation of these assets. This legal update follows a dismissed arbitration challenge, strengthening the company's position in recovering its dues.

EPACK Durables Legal & Regulatory

EPACK Durable Limited's merged subsidiary, ECPL, received a ₹0.41 Crore GST demand order including penalties from Uttarakhand tax authorities. The demand relates to alleged non-payment of GST on corporate guarantees. The company intends to appeal the order and does not expect a material financial impact.

Value

₹0.41 Cr

Prataap Snacks Legal & Regulatory

Prataap Snacks Ltd received an Income Tax Assessment Order and Notice of Demand for AY 2024-25 totaling ₹15.36 Crore. The demand arises from certain disallowances made during assessment. The company intends to appeal the order before higher authorities and believes it has strong grounds to contest the demand.

Value

₹15.36 Cr

Zydus Wellness Legal & Regulatory

Zydus Wellness Ltd's subsidiary, Comfort Click Limited, received a ₹0.21 Crore (EUR 19,472.57) penalty from the Spanish Tax Authority for alleged Q1 2021 VAT discrepancies. The company intends to appeal the order and expects no significant financial or operational impact.

Value

₹0.21 Cr

Tata Steel Legal & Regulatory

Tata Steel received a ₹1,755.11 Crore demand notice from the Jharkhand District Mining Office regarding alleged excess coal extraction between FY 2001-07. Management believes the claim lacks merit and intends to pursue legal remedies. Investors should note this significant contingent liability and potential for prolonged litigation.

Value

₹1,755 Cr

Compucom Software Legal & Regulatory

Compucom Software received an EPFO order determining ₹0.64 Crore in outstanding PF dues for contractual employees from 2008 to 2012. The Company intends to comply by depositing the amount within prescribed timelines. The management stated there is no material impact on company operations.

Value

₹0.64 Cr

Welspun Enterprises Legal & Regulatory

Welspun Enterprises' subsidiary, Welspun Aunta-Simaria Project Private Limited, received a Rs. 33.34 Crore income tax demand for FY 2023-24. The company believes the demand is not maintainable and is filing an appeal. Management does not foresee any material impact on financial or operational activities.

Value

₹33.34 Cr

UNO Minda Legal & Regulatory

Uno Minda Ltd received a ₹0.51 Crore GST penalty order from the Haryana tax authorities concerning excess Input Tax Credit for FY 2019-20. The demand includes tax, penalty, and interest. The company intends to contest the order and does not foresee any material financial or operational impact.

Value

₹0.51 Cr