Sapphire Foods India Limited — Others, 07-01-2025: Action(s) taken or orders passed

Sapphire Foods India Limited has received a demand order from the Deputy Commissioner of Commercial Taxes in Bengaluru, citing an improper utilization of eligible input tax credits against its output tax liability, resulting in a claim of ₹81.45 crore (cr), which includes interest and penalty. The company states that this claim is not maintainable and sees no material impact on its financials or operations. Sapphire is assessing its options, including challenging the order, which may influence investor sentiment but currently reflects a neutral impact with potential for future clarification.