High Court Refers Writ Proceedings Questions to Larger Bench; Interim Orders Continue
Shemaroo Entertainment Limited has reported that the Hon'ble High Court of Judicature at Bombay has referred the questions of law arising in the writ proceedings filed by the Company to a Larger Bench for adjudication.In an order dated April 17, 2026, the High Court took the step of referring the matters involved in the Company’s writ proceedings to a Larger Bench. The Court further directed that all existing interim orders in the matter, including the directive that no further action shall be taken concerning the impugned show cause notice/order until final orders are pronounced, shall continue in force until the Larger Bench determines the issues.
The details of the court's direction are summarized below:
| Particulars | Details |
|---|---|
| Name of the authority | Hon'ble High Court of Judicature at Bombay |
| Action taken | The Hon'ble Court referred the issues in the writ proceedings to a Larger Bench for adjudication. It also directed that interim orders granted shall continue to remain in force until the Larger Bench decides the issues. |
| Date of Order | April 17, 2026 |
In relation to the operational and alleged violations noted by BSE Limited, the Company provided the following details regarding the pending matter:
| Details of Alleged Violation | Monetary Demand and Allegation | Impact on Financial and Operations |
|---|---|---|
| Demand and recovery of inadmissible Input Tax Credit (ITC) allegedly amounting to Rs. 70.26 crores, along with interest and penalty. Penalty allegedly amounts to Rs. 63.35 crores. | Recovery demand for Rs. 70.26 crores (ITC), plus interest and penalty. Penalty allegedly amounts to Rs. 63.35 crores. | Due to the continuation of interim relief from the Hon'ble High Court, no coercive action can presently be taken against the Company. The matter remains pending adjudication before the Larger Bench. |
SHEMAROO Stock Price Movement
Shemaroo Entertainment Limited shares slipped by 0.76% on Friday, settling at ₹105.12 in the market. The equity saw a total traded volume of 5,364 shares during the session.Source:
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