IRM Energy Limited — Others, 05-02-2025: Action(s) taken or orders passed

IRM Energy Limited has received a penalty order from the GST Authority amounting to ₹61.15 crore under Section 74 of the Central Goods and Services Tax Act. The company is currently reviewing this order and will determine its next steps. Although the penalty has been issued, IRM Energy has already settled the corresponding GST dues under reverse charge, meaning the financial implications seem contained, with no expected material impact on operations. For investors, this may present a neutral impact, as the company's prompt payment mitigates potential disruptions while it navigates the review process.