Parag Milk Foods Limited — Others, 20-02-2025: Action(s) taken or orders passed

Parag Milk Foods Limited has received multiple penalty orders from the Income Tax Department totaling Rs. 9.57 crore. These penalties stem from alleged violations of sections of the Income Tax Act for various assessment years, including amounts of Rs. 3.43 crore for AY 2016-17, Rs. 1.06 crore for AY 2019-20, Rs. 0.41 crore for AY 2019-20, Rs. 4.65 crore for AY 2020-21, and Rs. 0.02 crore for AY 2022-23. The company plans to appeal against these penalties, which they aim to have suspended pending the resolution of the appeal. While this presents a significant financial liability, there is no immediate operational impact identified. Investors may view this as a potential risk to financial stability but could appreciate the company's proactive approach in pursuing appeal processes.