High Court Grants Interim Stay on Tax Recovery Proceedings Against Bannari Amman Sugars Limited
Bannari Amman Sugars Limited has successfully challenged revenue recovery proceedings initiated against it, and the High Court of Judicature at Madras has granted an interim stay concerning the matter. The company is continuing its legal pursuit in the court regarding the dispute.The proceedings refer to a claim by the District Collector, Erode, under the Revenue Recovery Act, 1864. These actions related to alleged unpaid tax and interest amounts of Rs. 12,72,30,170/- payable under the Tamil Nadu Tax on Consumption or Sale of Electricity Act, 2003.
The company initiated legal action against these proceedings by filing a Writ Petition before the Hon'ble High Court of Judicature at Madras. In response to the challenge, the Hon’ble High Court issued an order dated July 30, 2026, which granted an interim stay on the impugned proceedings that were initially issued on June 22, 2026.
Bannari Amman Sugars Limited confirmed that it will continue to pursue this matter before the Hon'ble High Court and pledged to keep stock exchanges informed of any further material developments in the ongoing case.
BANARISUG Stock Price Movement
Shares of Bannari Amman Sugars Limited closed today, shedding 0.35% to settle at ₹3480.4. The stock traded within an intraday range of ₹3475 and ₹3505 during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.