CG Power receives ₹3.65 billion tax demand for AY 2018–19

 Tax demand disclosure and company response  
CG Power and Industrial Solutions Ltd informed exchanges that the Income Tax Department has raised a demand of ₹3.65 billion for AY 2018–19. The company clarified in its NSE circular that it is currently examining the order and will take necessary steps to safeguard its interests.  

CG Power emphasized that the demand notice does not have any immediate material impact on its ongoing operations or financial stability. The disclosure was made in compliance with regulatory norms, ensuring transparency for investors and stakeholders.  

Major takeaways 

• CG Power receives tax demand of ₹3.65 billion for AY 2018–19  
• Company reviewing the order and plans to appeal  
• No immediate material impact on operations or financials  
• Disclosure made via NSE circular in compliance with regulations  
• Transparency maintained for investor confidence amid ongoing review  

Sources: NSE Circular, Reuters, Business Standard