AGI Greenpac Limited — Others, 12-11-2024: Action(s) initiated or orders passed

AGI Greenpac Ltd has received a Demand Order under Section 74 of the Central Goods and Services Tax Act, requiring a tax and penalty payment of ₹82.25 crore for the period from July 2017 to March 2018, associated with supplier default. The company is currently assessing the order with legal advisors to determine its next steps. Although there’s no significant impact on the company’s financials or operations anticipated, this situation may prompt investor concerns regarding potential liabilities. However, the firm believes the demand is not legally supportable, suggesting a positive outlook if the appeal is successful.