Varun Beverages Arbitration & YES Bank Tax Refund Updates
By Business Desk
Varun Beverages initiates South Africa dairy acquisition arbitration while YES Bank secures a massive income-tax refund order of 363 crore.
Varun Beverages Limited has initiated formal arbitration proceedings regarding its planned acquisition of a dairy business in South Africa. The company stated that the transaction stalled because certain conditions precedent were not fulfilled within the stipulated timeframe.
South Africa Dairy Acquisition Dispute
Varun Beverages originally entered into the deal to expand its regional footprint. To protect its corporate interests, the firm is now pursuing arbitration to resolve the matter following the unmet acquisition terms.
YES Bank Income Tax Refund Order
Separately, YES Bank announced on September 30, 2026, that it will receive a tax refund of approximately 363 crore for the assessment year 2017-18. The order follows successful appeals by the bank before the appellate authority in October and November 2025.
- Assessment Year: 2017-18
- Total Refund Quantum: 363 crore
The total refund amount includes interest under Section 244A of the Income-tax Act, 1961, alongside tax benefits related to expenses previously claimed. The Jurisdictional Assessing Officer issued the consolidated order giving effect on September 30, 2026, marking a resolution to disputes stemming from initial December 2019 assessment orders.