Paradeep Phosphates Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
PARADEEP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.3 pts more than Nifty Smallcap 250 and 0.9 pts more than its Fertilizers 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.
NCLAT has dismissed Paradeep Phosphates' appeal seeking Entry Tax exemption under a BIFR-sanctioned rehabilitation scheme from 2007-2014. The dispute involves a total tax liability of ₹76 crore, of which the company has already deposited ₹26 crore under protest. The company had claimed remission from Entry Tax during the period when it was classified as a sick industrial company under SICA. The NCLAT upheld the earlier NCLT order rejecting the company's plea. The company states no material financial impact is expected and plans to file a further appeal in the Supreme Court.
The litigation loss at NCLAT level adds uncertainty but the company has already provisioned for the liability, minimising near-term stock price impact. The planned Supreme Court appeal keeps the matter alive.