Venus Remedies Ltd update on resolution Of Income Tax matters and Elimination of Contingent Liability

Venus Remedies Limited has concluded all pending Income Tax matters relating to earlier assessment years. Following favorable decisions at the appellate level and subsequent orders issued by the concerned authorities, all outstanding tax demands have been resolved in full.

As a result, the contingent liability related to Income Tax, which was previously reported at Rs. 33.44 crores, now stands at nil. Amounts that were earlier deposited under protest have also been refunded to the Company along with the applicable interest. This brings complete clarity and closure to all outstanding Income Tax matters and further strengthens the Company's financial position.

Shares of Venus Remedies Limited was last trading in BSE at Rs. 691.65 as compared to the previous close of Rs. 721.75. The total number of shares traded during the day was 16363 in over 668 trades.

The stock hit an intraday high of Rs. 725.00 and intraday low of 685.55. The net turnover during the day was Rs. 11459186.00.

Source : Equity Bulls

Keywords

VenusRemedies INE411B01019 Pharmaceuticals Resolution IncomeTax ContingentLiability