Dear Sir/ Madam, Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 (Listing Regulations), this is to inform that the Company has filed a Writ Petition on 19th April, 2025 before the Hon ble High Court of Himachal Pradesh against order dated 3rd February, 2025 passed by Deputy Commissioner, GST Division, Dharamshala, Himachal Pradesh rejecting demand of Company for refund under the Scheme of Budgetary Support.The details as required under Regulation 30 of Listing Regulations and the Circular(s) issued thereunder is enclosed herewith as Annexure 1.Please take the above information on record.
PRITIKAUTO · price
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Awaiting price reaction for this filing.
Pritika Auto Industries has filed a writ petition before the Himachal Pradesh High Court on April 19, 2025, challenging a February 3, 2025 order from the Deputy Commissioner of GST, Dharamshala, which rejected the company's claim for a refund under the Scheme of Budgetary Support. The Scheme typically provides financial assistance to eligible industrial units in hilly states like Himachal Pradesh, and the company's refund application was denied at the departmental level. By moving the High Court, the company is seeking judicial review and reversal of this rejection. The financial impact of the refund amount has not been disclosed in this filing, and the next steps will depend on the court's proceedings.
For shareholders, this is a tax-related legal challenge where the outcome could either result in a cash inflow (if the refund is granted) or a permanent loss of the claimed amount. The stock price is unlikely to react sharply until the High Court outcome is known, but investors should watch for updates on the refund quantum and hearing dates.