Bharat Heavy Electricals Limited (BHEL) (NSE: BHEL, BSE: 500103) has disclosed receiving a legal judgment from the Kigali Court of Appeal in Rwanda, Africa, which has resulted in a financial demand of RWF 2,72,51,24,768 (approximately ₹17.22 crore). The court disallowed matching expenditure incurred against offshore income related to supplies from India for FY 2024-25.
The judgment also imposes a penalty of RWF 49,26,86,850 (approximately ₹3.11 crore), as per an earlier order by the Rwanda Revenue Authority (RRA). The court ruled that documents submitted by BHEL as “new evidence” in support of the expenditure did not qualify as such under legal standards.
BHEL has stated that it is currently examining legal recourse to challenge the judgment and mitigate its financial exposure.
The company disclosed this development in a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This news is based on an official announcement available on the BSE website.
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Published on: March 22, 2025 at 9.30PM GMT.
IIT JAM 2025 Scorecards Released
The Indian Institute of Technology Joint Admission Test for Masters (IIT JAM) 2025 scorecards are set to be released on March 24. Candidates can download their scorecards from the official website, jam2025.iitd.ac.in. Following the release, the application process for admissions via the Joint Online Admission Process System (JOAPS) portal will be open from March 26 to April 9, 2025.
As stated in Bhagavad Gita :
बहूनां जनमाणां अन्ते ज्ञानी मां प्रपद्यते।
After many births, the wise seek refuge in Me, knowing that I am everything.
