Kalpataru Projects International Limited — Others, 04-02-2025: Action(s) taken or orders passed

Kalpataru Projects International Limited has received a penalty order from the GST Authority demanding INR 84.59 lac related to alleged wrong availment of Input Tax Credit for the financial year 2017-18, associated with erstwhile JMC Projects (India) Limited. The company asserts it has a strong case to contest the order, which it plans to appeal. The financial impact of this penalty is not expected to be significant for the company. Investors may view this as a potential risk, but the company's proactive defense could bolster confidence in its management’s approach to regulatory challenges.