Legal2 Mar 2026, 08:52 pm
GP Petroleums Promoter Entity Transfers Equity Shares Due to GST Dues!
AI Summary
GP Petroleums Ltd. has received a communication from its Promoter entity, Nivaya Resources Private Limited, informing that 6,93,895 equity shares held by them have been transferred from their demat account. The transfer appears to have been made in favour of SBICAP Securities Limited due to a notice issued by the GST Department under Section 79(1)(c) of the CGST Act, 2017, for recovery of government dues. The Company is examining the matter and seeking clarifications from the concerned intermediaries.
Key Highlights
- GP Petroleums Ltd. receives communication from Promoter entity, Nivaya Resources Private Limited.
- 6,93,895 equity shares held by Nivaya Resources Private Limited transferred from its demat account.
- Transfer made in favour of SBICAP Securities Limited due to GST Department notice.
- Company examining the matter and seeking clarifications from concerned intermediaries.
- No financial impact on the Company.