Ircon International Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
IRCON · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Patna High Court had on 25th February 2026 upheld VAT demands on Ircon International for FY 2010-11 to FY 2016-17 (excluding FY 2011-12) totalling approximately Rs. 78.64 crore, related to the Ganga Bridge Project executed by the company. Aggrieved by this ruling, Ircon filed Special Leave Petitions in the Supreme Court. On 16th March 2026, the Supreme Court issued notice to the VAT department and stayed the operation of the Patna High Court's judgment, meaning the Rs. 78.64 crore demand is currently on hold until the petitions are disposed of. This is a continuation of disclosures made earlier in August 2023 and February 2026.
Positive for shareholders in the short term as the Rs. 78.64 crore cash outflow is deferred. The final outcome still depends on the Supreme Court's decision, so the relief is temporary and the matter remains a contingent liability until resolved.