NELCO Limited — Others, 11-03-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Nelco has announced a board meeting to discuss the settlement under the Direct Tax Vivad Se Vishwas Scheme for Assessment Year 2011-12. The company has received a Certificate from the Income Tax Authority, confirming a tax liability of ₹4.19 crore. This amount will be adjusted against previous tax refunds, resulting in no additional cash outflow. The settlement will convert a contingent liability into a recognized tax liability on the profit and loss statement, thereby reducing future contingent liabilities to zero. This could enhance investor sentiment, given the clarity on past tax disputes.