Himatsingka Seide Limited has informed the Exchange about Updates on Ongoing Litigation(s) or Dispute(s)
HIMATSEIDE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 1.6 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Himatsingka Seide Limited has disclosed an update on an ongoing income tax dispute related to transfer pricing adjustments for Assessment Year 2008-09. The dispute involves three matters: corporate guarantees to subsidiaries, inter-corporate loans to associated enterprises, and exports to subsidiaries. The Income Tax Appellate Tribunal dismissed appeals from both the Revenue and the Company but deleted additions worth Rs. 6.90 crores in the Company's favour. However, the Revenue successfully obtained condonation of delay from the High Court, prompting the Company to plan an appeal before the Supreme Court. This is a standard regulatory disclosure under SEBI LODR regulations and does not involve any settlement, penalty, or fraud findings.
No immediate financial impact as no penalty has been imposed. The ongoing litigation creates uncertainty around potential tax liability if the Revenue succeeds in its appeal, though the ITAT ruling was largely favourable to the Company.