Nectar Lifesciences Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company.
NECLIFE · price
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Awaiting price reaction for this filing.
Nectar Lifesciences has informed the exchanges about an adverse order from the Assistant Commissioner of Central GST, Derabassi, dated August 26, 2025. The order rejects the company's refund claim of Rs. 3,50,18,429 (approximately Rs. 3.50 Crore) related to duties paid on Advance Licenses issued by DGFT. The refund was claimed because the company could not meet its export obligations due to shortage or cancellation of export orders, and had paid duties with interest to close the licenses. The company is now preparing to file an appeal with the Commissioner (Appeals) to contest this rejection. If the appeal succeeds, the company will receive the Rs. 3.50 Crore refund.
This is an unfavorable tax order worth Rs. 3.50 Crore, though the company intends to appeal. The financial impact is not yet final since the matter is being contested. Shareholders should monitor the appeal outcome as it could affect cash flows.