Karur Vysya Bank secures interim stay from Madras HC on income tax reassessment notices
Karur Vysya Bank secured an interim stay from the Madras High Court on income tax reassessment notices for AY 2020-21, 2021-22, and 2022-23, expecting no financial impact.
The bank has received an interim stay and asserts that there will be no financial, operational, or other impact due to the litigation, suggesting a low overall impact on the company's business.
The interim stay granted by the High Court in favor of the bank, coupled with the bank's strong belief in its legal grounds and no expected financial impact, indicates a positive outcome for the company regarding the litigation.
Karur Vysya Bank Limited has announced that the Madurai Bench of the Honourable Madras High Court has granted an interim stay in the Writ Petitions filed by the Bank. These petitions challenge the re-opening of assessment for Assessment Years 2020-21, 2021-22, and 2022-23. * Background: The Bank received notices under Section 148 and orders under Section 148A(3) of the Income-tax Act, 1961, from the Deputy Commissioner of Income Tax and Addl. Commissioner of Income Tax, Trichy, for initiating reassessment proceedings. * Legal Action: Aggrieved by these orders, the Bank filed a Writ Petition on September 22, 2025, before the Madurai Bench of the Madras High Court. * Current Status: A hearing was held on October 6, 2025, where an ad interim stay was granted in favour of the Bank. The official order from the High Court is yet to be uploaded. * Financial Impact: The Bank strongly believes it has adequate legal grounds to defend the issues involved in the re-opening proceedings and expects no financial, operational, or other activities of the Bank to be impacted.
What to do with a filing like this
Karur Vysya Bank Limited filed this with the NSE as a statutory disclosure, categorised under litigation updates. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Karur Vysya Bank Limited. Read the original for the full detail.