An update on material litigation as disclosed at Sr. No. IV of the disclosure filed by the Company on 14.02.2025 under Clause 8 of Para B of Part A of Schedule III of the SEBI Listing Regulations, ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Vijay Solvex Ltd had received an approved GST refund of Rs. 2.23 Crores for March 2022 under the Inverted Duty Structure, which was later set aside by the Joint Commissioner (Appeal), GST, Jaipur in March 2024, along with a direction to recover the refund with interest. The company challenged this order by filing a Civil Writ Petition before the High Court of Rajasthan, Jaipur Bench. The High Court has now allowed the writ petition vide its order dated 24.11.2025 (received by the company on 16.01.2026), ruling in favor of the company. This overturns the earlier adverse order and secures the company's claim to the refund amount.
Positive for shareholders — the Rs. 2.23 Crores GST refund is now protected and the company avoids the earlier direction to reverse the refund with interest, removing a material litigation overhang.