Ramco Industries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
RAMCOIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ramco Industries Limited has received a penalty order from the Income Tax Department's National Faceless Assessment Centre for Assessment Year 2017-18. A penalty of Rs 23.79 lakhs (200% of the underlying tax amount of Rs 11.90 lakhs) has been levied under Section 270A of the Income Tax Act. The penalty arises from a difference in interpretation concerning a disallowance made under Section 14A of the Income Tax Act. The company has stated it intends to file an appeal against this order. The filing has been made under SEBI LODR Regulation 30 for disclosure of fines or penalties imposed.
The monetary impact of Rs 23.79 lakhs is small relative to the company's operations and is unlikely to materially affect financials or stock price. Investors should note the pending appeal, but no immediate concerns are flagged.