Galaxy Surfactants Wins Legal Appeal in CESTAT, Amount Involved Rs. 34 Crore

Team Finance Saathi

04/Dec/2024

What's Covered under the Article:

Galaxy Surfactants has won its appeal in the CESTAT, with the amount involved being around Rs. 34 crore.
The CESTAT has set aside the impugned order from the lower authority in the ongoing litigation case.
The ruling, announced on December 03, 2024, is a significant development for the company.

Galaxy Surfactants Limited, a leading manufacturer of surfactants and specialty chemicals, has received a major boost in its ongoing legal battle. The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has ruled in favor of the company, allowing its appeal and setting aside the impugned order of the lower authority. The case involves a substantial amount of approximately Rs. 34 crore.

The ruling, pronounced on December 03, 2024, marks a significant milestone for Galaxy Surfactants, reflecting the company's legal strategy and commitment to addressing disputes with the authorities effectively. The company's management is confident that this decision will help in resolving the matter favorably, supporting its efforts to safeguard shareholder interests.

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Earlier in August 2023, the company had disclosed the pendency of litigation, and this recent ruling has provided clarity on the case. This legal victory is expected to strengthen Galaxy Surfactants' position in the market, enhancing investor confidence and boosting its financial outlook.

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Galaxy Surfactants Wins Legal Appeal in CESTAT, Amount Involved Rs. 34 Crore

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