Karur Vysya Bank Limited — Others, 21-12-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

The bank has filed a writ petition with the Hon'ble High Court of Madras in response to a Show Cause Notice under the Goods and Services Tax Act for FY 2020-21, which charges ₹2,537 Cr. The Court has granted an interim stay on the notice pending further developments. The bank asserts that it has consistently complied with GST laws and does not anticipate material financial implications from this matter. For investors, this suggests a positive outlook as the interim relief could mitigate immediate financial risks associated with the tax claim.