Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
As filed · CG Power and Industrial Solutions Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
RegulatoryWatchNotablemateriality 64 out of 100
What happened
FactCG Power and Industrial Solutions Limited has received an updated stay order from the Income Tax Department regarding a tax demand, which will remain in effect until the appeal is resolved by the Income Tax Appellate Tribunal. The company is required to pay Rs. 28,13,23,489 in three installments to maintain the stay on the remaining tax demand. This amount has been adjusted based on a tax refund determined earlier.
Why it matters
CapitSignal interpretationLitigation creates a contingent liability that is not in reported profit until it crystallises.
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Fact- Amount claimed against the company
- Whether a provision has been made
- Next hearing or order date
Evidence
How CapitSignal classified this
- Reasoning:
- LITIGATION base 56; +5 quantified amount; +3 quantified percentage; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%