Steel Strips Wheels LimitedSSWLNSEAutomobile and Auto Components

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

16 Jun 2025 · 15:06 ISTRegulatoryWatchNotable

What happened

Fact

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company.

Why it matters

CapitSignal interpretation

Litigation creates a contingent liability that is not in reported profit until it crystallises.

What management said before

Prior statements by this company that CapitSignal has recorded changing.

Demand

Revised

EarlierFY26

what we had anticipated at the beginning of the year that there will be a 5% to 6% kind of a volume growth, which I feel that it is looking tough.

NowFY26

I think that will fall down around 2% or 3%, which is completely impacted by the fact of exports.

Change

Fact

Target revision

Implication

CapitSignal interpretation

The earlier statement anticipated a volume growth of 5% to 6%, while the current statement projects a decline to around 2% or 3%. This represents a material change in the expected growth target.confidence 90%

Watch next

Fact

Amount claimed against the company
Whether a provision has been made
Next hearing or order date
capacity expansion in Jamshedpur will be done to add close to 0.5 million wheels into the kitty of commercial (management committed by FY27)
we have set a target of around INR600 crores. (management committed by FY27)

Evidence

Steel Strips Wheels Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company. In continuation of the company s earlier intimation dated 11.08.2023 in regard to the Show cause Notice(SCN) received from the office of Central GST and Central excise, Gandhinagar, and pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 {SEBI (LODR) Regulations, 2015}, it is informed that in terms of the order dated 13th June 2025 passed by the Hon ble High Court of Gujarat at Ahmedabad, the petition filed by the company, against the aforesaid SCN, has succeeded in view of applicability of Notification No.20/2024 whereby Rule 96(10) is omitted and the said Notification would be applicable to all the pending proceedings/cases as on 8th October, 2024. Hence, the impugned show cause notice or the impugned orders-in-original, as the case may be, have been quashed and set aside. The order further states that petitioners are entitled to claim the IGST paid on the export of goods as per Rule 96 of the CGST Rules, 2017 in accordance with law. Accordingly in view of the Hon ble High Court order dated 13th June 2025, the Company is now eligible to file the application with the GST Department to set aside the Show cause notice as well as close the outstanding demand of both GST refund of Rs. 7.62 Crores as well as Interest and Penalty amounting to Rs. 15.24 Crores.

How CapitSignal classified this

Reasoning:: LITIGATION base 56; +5 quantified amount; matched on subject
Matched on:: the filing's own subject line
Confidence in the event type:: 75%

See Steel Strips Wheels Limited’s full corporate memory →

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Steel Strips Wheels LimitedSSWLNSEAutomobile and Auto Components

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

16 Jun 2025 · 15:06 ISTRegulatoryWatchNotable

What happened

Fact

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company.

Why it matters

CapitSignal interpretation

Litigation creates a contingent liability that is not in reported profit until it crystallises.

What management said before

Prior statements by this company that CapitSignal has recorded changing.

Demand

Revised

EarlierFY26

what we had anticipated at the beginning of the year that there will be a 5% to 6% kind of a volume growth, which I feel that it is looking tough.

NowFY26

I think that will fall down around 2% or 3%, which is completely impacted by the fact of exports.

Change

Fact

Target revision

Implication

CapitSignal interpretation

Watch next

Fact

Amount claimed against the company
Whether a provision has been made
Next hearing or order date
capacity expansion in Jamshedpur will be done to add close to 0.5 million wheels into the kitty of commercial (management committed by FY27)
we have set a target of around INR600 crores. (management committed by FY27)

Evidence

Steel Strips Wheels Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company. In continuation of the company s earlier intimation dated 11.08.2023 in regard to the Show cause Notice(SCN) received from the office of Central GST and Central excise, Gandhinagar, and pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 {SEBI (LODR) Regulations, 2015}, it is informed that in terms of the order dated 13th June 2025 passed by the Hon ble High Court of Gujarat at Ahmedabad, the petition filed by the company, against the aforesaid SCN, has succeeded in view of applicability of Notification No.20/2024 whereby Rule 96(10) is omitted and the said Notification would be applicable to all the pending proceedings/cases as on 8th October, 2024. Hence, the impugned show cause notice or the impugned orders-in-original, as the case may be, have been quashed and set aside. The order further states that petitioners are entitled to claim the IGST paid on the export of goods as per Rule 96 of the CGST Rules, 2017 in accordance with law. Accordingly in view of the Hon ble High Court order dated 13th June 2025, the Company is now eligible to file the application with the GST Department to set aside the Show cause notice as well as close the outstanding demand of both GST refund of Rs. 7.62 Crores as well as Interest and Penalty amounting to Rs. 15.24 Crores.

How CapitSignal classified this

Reasoning:: LITIGATION base 56; +5 quantified amount; matched on subject
Matched on:: the filing's own subject line
Confidence in the event type:: 75%

See Steel Strips Wheels Limited’s full corporate memory →