Niva Bupa Health Insurance Company Limited has emerged victorious in a significant GST demand case, marking a substantial win for the company in its regulatory compliance efforts.

Case Resolution

The Additional Commissioner of Central Goods & Service Tax, Meerut, has ruled in favor of Niva Bupa, effectively closing proceedings on a GST demand case worth ₹1,241.00 crore. This decision comes as a relief to the company, which had been contesting the allegations of non-payment of GST on two fronts:

1. Co-insurance premium from July 2017 to March 2022
2. Reinsurance commission for the same period

Legal Journey

The case has traversed a complex legal path:

1. Initially, the Office of Principal Commissioner CGST and Central Excise, Pune Zonal unit, had raised the demand.
2. The matter was then heard by the Hon'ble High Court of Bombay, which set aside the original order and remanded the case back for fresh consideration.
3. Subsequently, the case was transferred to the Principal Commissioner Central Goods & Service Tax, Meerut.

Final Verdict

On September 30, 2025, at 07:18 P.M., Niva Bupa received the final order from the Additional Commissioner. The order states that the proceedings and alleged demand against the company have been dropped, in light of the directive passed by the Hon'ble Court.

Impact on Niva Bupa

The resolution of this case is significant for Niva Bupa for several reasons:

1. Financial Relief: The dropped proceedings mean that Niva Bupa will not have to pay the substantial sum of ₹1,241.00 crore that was initially demanded.
2. Operational Continuity: The company has confirmed that there will be no impact on its financial, operational, or other activities as a result of this decision.
3. Regulatory Compliance: This outcome reinforces Niva Bupa's stance on its GST compliance during the period in question.

Corporate Disclosure

In compliance with regulatory requirements, Niva Bupa has made the necessary disclosures to the National Stock Exchange of India Limited and BSE Limited. The company has provided detailed information as mandated under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This favorable resolution for Niva Bupa underscores the importance of due process in regulatory matters and highlights the company's successful navigation of a complex GST-related challenge.

Niva Bupa Health Insurance Company , a prominent player in India's health insurance sector, is set to see a change in its ownership structure as Fettle Tonne announces plans to reduce its stake in the company.

Stake Sale Details

• Current Stake: Fettle Tonne currently holds a 7.9% stake in Niva Bupa.
• Proposed Sale: Up to 5% of its existing stake.
• Method: The sale will be executed through a block deal.

Impact on Ownership

The proposed transaction will result in a decrease in Fettle Tonne's ownership of Niva Bupa. If the full 5% is divested, Fettle Tonne's stake is expected to be reduced to approximately 2.9%.

About Niva Bupa

Formerly known as Max Bupa Health Insurance, Niva Bupa Health Insurance Company Limited is registered with the Insurance Regulatory and Development Authority of India (IRDAI) with Registration No. 145 and operates under CIN: L66000DL2008PLC182918.

Corporate Governance

As per the latest LODR (Listing Obligations and Disclosure Requirements) data, Niva Bupa has announced:

• The closure of its trading window for the quarter and half year ending September 30, 2025.
• This closure applies to Designated Persons of the company and their immediate relatives.
• The trading window will remain closed from October 1, 2025, until 48 hours after the unaudited financial results for the mentioned period become generally available.

Market Implications

While the specific reasons for Fettle Tonne's decision to reduce its stake have not been disclosed, such moves can often signal various strategic considerations. Market participants and investors in Niva Bupa may want to monitor this development closely for potential impacts on the company's stock price and overall market perception.

As this story develops, more details may emerge regarding the timing, pricing, and potential buyers involved in the block deal. Stakeholders and market analysts will likely be keen to understand the implications of this ownership change on Niva Bupa's future strategies and operations in the competitive health insurance landscape.