Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Receipt of income Tax Refund
SUBEXLTD · price
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Subex Ltd has received an Income Tax refund of Rs. 2.37 crores, which includes Rs. 1.28 crores in interest, pertaining to Assessment Year 2008-09. The refund was credited to the company's bank account on May 4, 2026. This refund was issued following a rectified order that gave effect to a High Court order for AY 2008-09, indicating the company successfully challenged a tax demand from approximately 18 years ago. The company disclosed this under SEBI Regulation 30 as a material event requiring shareholder awareness.
The refund represents a modest positive for Subex's cash position, though Rs. 2.37 crores is unlikely to significantly impact financials given the company's scale. The High Court-ordered refund confirms a favorable resolution of an old tax dispute, removing a contingent liability.