Patanjali Foods Limited — Important, 19-02-2025: General Updates

Patanjali Foods Limited has clarified that a Special Leave Petition (SLP) was filed by the Principal Commissioner of Income Tax against a Bombay High Court order, which was dismissed by the Supreme Court without a hearing notice being received by the company. The Income Tax Department had previously raised demands of Rs. 186 crore for various assessment years, but these were quashed by the Supreme Court, following a dismissal of the Department's Writ Petition by the High Court. The outcome of this legal matter positively impacts Patanjali Foods, removing significant tax liabilities related to the pre-Corporate Insolvency Resolution Process (CIRP) period, thus providing clarity and potential financial relief moving forward. Monitoring the company’s legal landscape remains essential.