Tvs Supply Chain Solutions Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
TVSSCS · price
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TVS Supply Chain Solutions has informed the exchanges about a pending dispute with the Employees Provident Fund Organization (EPFO). The EPFO had issued an order re-assessing PF contributions for the period April 2011 to October 2013. The company has filed an appeal before the Appellate Tribunal challenging this order. The quantum involved is INR 8.21 Crores. The company has stated that expected financial implications are Nil, as it is contesting the matter based on consultant advice.
This is a routine disclosure of pending litigation and the company believes there will be no material financial impact. Shareholders should monitor the outcome of the appeal, as an adverse ruling could lead to a liability of up to Rs 8.21 crore.