Piramal Enterprises Limited — Others, 28-02-2025: Action(s) initiated or orders passed

Piramal Enterprises has announced a board meeting to discuss the receipt of an order from the Maharashtra GST Department, imposing a demand of Rs. 1,502 crores for alleged short payment of tax related to the slump sale of its Pharma business to Piramal Pharma Limited in FY 2021. The company maintains that this classification as an itemized sale is unjustified, as it believes it has solid grounds to contest the order. Piramal expects a favorable resolution and asserts that this order will not impact its profit and loss statement. Investors may view this as a neutral impact, with potential risks mitigated by the company's confidence in its legal position.