Mangalore Refinery and Petrochemicals Limited — Others, 31-01-2025: Action(s) taken or orders passed

Mangalore Refinery and Petrochemicals Limited has received an Order-in-Original demanding the recovery of ₹7.38 crore related to CGST along with interest and a penalty of ₹7.38 crore due to alleged non-reversal of CGST Input Tax Credit from November 2017. The company disputes these allegations, stating the credits were taken correctly. They plan to appeal the order, which indicates proactive management in handling potential financial liabilities. Investors might see this as a neutral impact on financial stability considering the company's operational scale, but it presents a minor risk in terms of ongoing legal proceedings.