Maiden Forgings Limited, formerly known as Maiden Forgings Private Limited, has secured a major interim relief in its ongoing tax litigation. On May 18, 2025, the company informed the stock exchanges that the Hon'ble Allahabad High Court has admitted its writ petition and granted a stay against the ₹17.12 crore GST demand order issued by the Office of the Principal Commissioner, Central Goods and Services Tax, Meerut.

The matter pertains to a dispute raised under the CGST Act, where the tax department had issued an assessment order quantifying GST liability at ₹17.12 crore. This included a demand notice and proposed penalty proceedings.

In response, the company had filed a writ petition before the Allahabad High Court, seeking a stay on the demand and challenging the validity of the assessment order.

According to the company’s official communication, made in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, the High Court has now admitted the petition and granted a stay on the disputed demand.

The disclosure includes a detailed summary of the litigation as per regulatory requirements:

• Name of opposing party: Office of the Principal Commissioner, Central GST, Meerut

• Forum: Hon'ble Allahabad High Court

• Nature of the dispute: Challenge to validity of GST assessment order and related penalty proceedings

• Quantum involved: ₹17.12 crore (GST demand)

• Expected financial impact: None, as reiterated from the company’s earlier disclosure dated February 15, 2025

The company stated that it does not anticipate any financial liability, citing reasons outlined in its earlier filing.

This legal update follows Maiden Forgings’ earlier communication to the exchanges, where it had disclosed the receipt of the assessment order and the initiation of legal recourse through a writ petition. The current update offers reassurance to investors and stakeholders regarding the company’s legal standing and confidence in the merits of its case.

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