Imagicaaworld Entertainment Limited — Others, 25-12-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Imagicaaworld Entertainment Limited has filed a writ petition with the Hon’ble Bombay High Court against the State of Maharashtra and related departments, challenging the withholding of a SGST refund amounting to ₹6.72 crore for the period of October 2020 to March 2024. The company asserts that this refund, vital for its financial health, should have been disbursed according to a prior resolution. While claiming this amount plus interest, the company does not anticipate any adverse financial impact, as these claims are already accounted for. This legal action could indicate a proactive stance in securing cash flows, potentially fostering a positive outlook among investors.