Mindteck (India) Limited — Others, 14-02-2025: Action(s) taken or orders passed

Mindteck (India) Limited has announced a board meeting to address ongoing litigation under the Income Tax Act for AY 2016-17. The Corporation identified a rectification order indicating a potential refund of ₹1.91 crore, but deductions made by tax authorities have led to a net refundable amount of ₹0.88 crore. Mindteck plans to file a rectification application to address errors in the authority's calculations, including unrecognized reliefs and prior refunds. This situation may pose a temporary operational risk but could lead to financial recovery once rectified, offering a positive outlook for shareholders.