Madhav Copper Limited — Others, 12-04-2025: Action(s) initiated or orders passed

Madhav Copper Limited has announced a board meeting to discuss the ongoing GST search matter, stemming from a show cause notice regarding delayed disclosures due to the COVID-19 pandemic. A search was conducted by the SGST authorities, leading to a provisional attachment of assets and subsequent complications with the company's GST registration. However, following the restoration of the GST number, operations have resumed. The firm faces an ongoing appeal regarding a claim of wrongful availment of Input Tax Credit (ITC) amounting to ₹137 crore. This situation may keep investor sentiment cautious, with a focus on the potential risks related to the pending appeal.