The South Indian Bank Limited — Others, 24-02-2025: Action(s) initiated or orders passed

The South Indian Bank has received a penalty order of ₹12.03 lakh from the Assistant Commissioner of State Tax, Delhi, related to an excess availing of Input Tax Credit (ITC) for FY 2020-21. The bank is currently assessing its legal options for appeal. This penalty could impact the bank’s financial health, depending on the outcomes of the proposed legal remedies. Investors may view this situation as a potential risk, but the bank's proactive approach could mitigate negative sentiments in the long term.