Pursuant to Regulation 30 of SEBI( Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company has received an Order on September 12, 2025 ....
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GKB Ophthalmics has received an order dated September 12, 2025 from the Labour Commissioner, Goa, directing the company to pay Rs. 8,82,00,856 (approx. Rs. 8.82 crore) to its workmen. This relates to a Charter of Demands filed in 2009 by the Goa Trade & Commercial Workers' Union, for which the Industrial Tribunal Panjim-Goa had passed an Award on May 25, 2021. The company has been challenging the original Award before the Bombay High Court at Goa since 2021 (writ petition WP/358/2021), arguing that factors like industry-region formula, company's financial position, and comparable industries were not considered. The company has stated it does not admit the liability and will challenge the new recovery order before the High Court within the permitted time. The company has acknowledged that the order is likely to have a material impact on its financial position.
An adverse order of Rs. 8.82 crore against the company, though the amount is not immediately payable as GKB plans to legally contest it. Investors should monitor the High Court outcome, as a final loss could pressure earnings and cash flows, while a favorable ruling would be a relief.