Pursuant to Reg 30 of SEBI (LODR) Regulations 2015, we wish to inform you that the Company has received a letter on 18th March 2026 from the Income Tax Department, Chennai regarding giving ....
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Ind Bank Housing Ltd has received a favorable 'Giving Effect Order' from the Income Tax Department in Chennai, giving effect to a 2021 appellate order passed by the Madras High Court in Tax Case Appeal No. 1822 of 2008. The order pertains to Assessment Year 1999-2000 and entitles the company to a refund of Rs. 8,79,04,379 (about Rs. 8.79 crore), which includes interest on the delayed refund. The company is now taking steps to actually receive the refund amount. The accounting impact will be recognized in the financial statements as per applicable standards. This is a positive development stemming from a long-pending tax dispute that has now been resolved in the company's favor.
This is a positive outcome for shareholders. The refund of approximately Rs. 8.79 crore will strengthen the company's cash flows and improve its liquidity position. Given the company's small size, this is a meaningful inflow that supports working capital and overall financial health.