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 a stay order on a tax demand of Rs. 33,01,61,769 from the Income Tax Department for the Assessment Year 2020-21. The stay is granted on the condition that the company pays 20% of the tax demand in six instalments of Rs. 1,10,00,000 each. This disclosure is made in accordance with the SEBI Listing Regulations.
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%