NELCO Limited — Others, 22-01-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

NELCO has announced a board meeting to discuss its application under "The Direct Tax Vivad Se Vishwas Scheme, 2024" aimed at settling a key Income Tax dispute related to a Slump Sale for Assessment Year 2011-12. By opting for this scheme, the company's potential tax liability could reduce from ₹ 1,095 crore to approximately ₹ 497 crore, recognized as a one-time tax liability in its profit and loss statement. This settlement will eliminate contingent liabilities associated with this matter. While this development is significant for financial health, it does not materially impact the company’s operations, presenting a positive outlook for shareholders.