On October 5, Nazara Technologies’ subsidiary, Openplay Technologies Pvt. Ltd., received interim relief from the Calcutta High Court amid an ongoing GST dispute. Openplay had been issued a show cause notice by the Director General of GST Intelligence, Kolkata, demanding approximately ₹845.72 crore for the 2017-18 to 2022-23 fiscal years.
In response, Openplay filed a writ petition challenging the demand, leading the High Court to grant interim relief. The court directed that no further action should be taken without its approval.
Nazara Technologies’ stock, which closed at ₹958.00 on October 4, down by 2.59%, is expected to be in focus today as investors monitor the impact of this legal development.
Disclaimer: This information is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making any investment decisions.
