CG Power gets stay order on tax demand balance

CG Power and Industrial Solutions announced it has obtained a stay order from the Income Tax Department regarding the balance amount of a demand raised in assessment years 2015-16, 2016-17, 2017-18 and 2019-20. The total initial demand was for INR 248,40,20,755. The order, dated April 9, 2025, directs the company to deposit INR 2,00,00,000, with the remaining balance stayed pending the disposal of CG Power's appeal before the Commissioner of Income Tax (Appeals). The company had initially filed an appeal challenging additions and disallowances made in the demand. The company disclosed the stay order under Regulation 30 of the SEBI Listing Regulations.