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.
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.
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 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.
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.
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.
