Syngene International Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
SYNGENE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Syngene has received an order dated February 6, 2026, giving effect to a partial favorable ruling by the National Faceless Appeal Centre (NFAC) for Assessment Year 2016-17. The original tax demand of Rs. 72.33 crore was raised by the Income Tax department in December 2018, which the company had appealed in January 2019. Following NFAC's partial allowance of the appeal and the Karnataka High Court allowing a related writ petition on refund adjustments of Rs. 48.91 crore, the Assessing Officer has now granted a refund of Rs. 43.16 crore (including interest). The company is yet to receive the refund amount. No penalty, restriction, or sanction has been imposed. Management states there will be no material impact on financials, though contingent liability related to AY 2016-17 will decrease.
Mildly positive for shareholders - the company secured a partial tax relief and is entitled to a refund of Rs. 43.16 crore, reducing its contingent liability. However, the refund is pending receipt and management confirms no material financial impact, so significant stock price movement is unlikely.