Kalpataru Projects International Limited — Others, 30-01-2025: Action(s) taken or orders passed

Kalpataru Projects International Limited has announced a board meeting on an upcoming date to discuss a recent order received from the GST Authority, demanding a penalty of INR 35.38 Cr for the financial year 2020-21 due to alleged wrong availment of Input Tax Credit. The consortium, which includes the company, believes it has a strong case for appeal, as the order was issued without proper consideration of the evidence provided. This penalty is not expected to significantly impact the company's financial health. Investors may view this situation with a neutral impact, as the company prepares to counter the order and mitigate potential risks.