Crompton Greaves faces tax demand, shareholders approve resolution

Crompton Greaves Consumer Electricals Limited has reported a demand from the Superintendent, Gandhi Maidan Range, Patna, Bihar, for INR 97,60,458, covering the period from April 2018 to March 2023. The demand includes INR 31,00,082 in tax, INR 35,60,294 in interest, and INR 31,00,082 in penalty, primarily due to the disallowance of input tax credit under Section 74 of the GST Act, 2017. The company intends to appeal this order and anticipates a favorable outcome.

In a separate development, the company's shareholders approved a special resolution for the alteration of the object clause of the memorandum of association of the company through a postal ballot. The e-voting period, which commenced on August 14, 2025, and concluded on September 12, 2025, saw 49,93,35,951 votes cast in favor, representing 99.99% of valid votes, with 13,806 votes against.

The scrutinizer's report confirmed that the resolution was passed with the requisite majority.