Thermax Limited — Others, 20-12-2024: Action(s) taken or orders passed

Thermax Limited has received an assessment order from the Joint Commissioner, CGST, Pune, regarding alleged violations related to Corporate Guarantees provided to banks on behalf of its subsidiaries for FY 2017-18 to 2022-23. The authority has raised a demand totaling ₹16.43 cr, plus interest and an equivalent penalty. The implications of this order could affect the company’s financial health and operations, potentially leading to a cash outflow. Investors might view this development with caution, given the financial impact and the potential for further scrutiny in future periods.