Aspinwall disclosed a Supreme Court dismissal of its appeal regarding set-off of amalgamated company losses under Kerala Agricultural Income Tax Act.
The financial implication is an estimated ₹58 lakh plus interest, for which the company has already made adequate provisions in its books.
The cash outflow is expected to be adjusted against pending tax refunds, resulting in minimal net impact on the company's financial strength.
The company is assessing next steps, including the possibility of filing a Review Petition with the Supreme Court.