The Federal Bank Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.'.
FEDERALBNK · price
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Federal Bank has received orders from the Income Tax Department in Kochi dated 26 March 2026, giving effect to the Hon'ble ITAT order of 13 August 2024 for Assessment Years 2015-16 and 2017-18. As a result, the bank is entitled to an aggregate refund of ₹489.60 crore (including interest under Section 244A of the Income Tax Act). This is a favorable outcome stemming from the ITAT ruling in the bank's favor. The disclosure has been made under SEBI Listing Regulations, with the Company Secretary signing off on the communication to the exchanges.
This is a positive development for shareholders — the bank will receive a sizeable tax refund of nearly ₹490 crore (plus interest), which will boost its near-term cash flows and can be added to provisions or retained earnings. It reflects a successful tax litigation outcome, though the timing of actual receipt may depend on processing by the tax department.