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Kirloskar Brothers (#KIRLOSBROS) received a tax demand notice for **Rs 15.48 Cr** from the Andhra Pradesh State Tax Dept. This claim is for 2017-18, related to an unincorporated Joint Venture (IVRCL-KBL-MEIL JV).
**The Issue:** A significant tax arrear claim of Rs 15.48 Cr has been raised against the company, stemming from a past JV project.
**Possible Impact:** If the claim were to be enforced, it would result in a material cash outflow of Rs 15.48 Cr for the company.
**Company's Response/Mitigation:** KBL challenged this demand by filing a Writ Petition in the Hon'ble High Court for the State of Andhra Pradesh.
**Update for Investors:** The High Court has granted an **interim stay** against the recovery proceedings. This is positive news as it prevents the immediate payment of the Rs 15.48 Cr, providing crucial relief from a potential cash outflow while the legal challenge continues. #TaxDispute #LegalUpdate #KBL