The City Civil Court, Mumbai, has quashed the order passed by the Estate Officer of the Mumbai Port Trust (MBPT) against ivp , remanding the matter for fresh adjudication. Delivered on July 24, 2026, this judgment sets aside the impugned administrative decision, effectively removing an immediate adverse finding against the company. The ruling mandates that the Estate Officer reconsider the case on its merits in accordance with the law, ensuring that all parties are granted an adequate opportunity of hearing before a final determination is reached. This procedural reset shifts the burden back to the regulatory authority to prove its case afresh.

IVP Limited disclosed this development on July 25, 2026, pursuant to Regulation 30(7) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with para 8 of part B of schedule III. The intimation, bearing reference number IVPSEC/SE/411/07/2026-27, continues earlier disclosures made under reference numbers IVPSEC/SE/379/06/2026-27 dated June 11, 2026, and IVPSEC/SE/397/07/2026-27 dated July 08, 2026. These previous filings detailed the initial order by the Estate Officer of the Mumbai Port Authority (MBPA) and the subsequent stay granted by the City Civil Court, Mumbai.

Court Order Details

The specific directives issued by the Hon'ble Court are summarized below:

The proceedings now stand restored before the Estate Officer for fresh consideration and determination. The company stated that it will intimate any further material developments to the exchanges in a timely manner, in accordance with applicable regulatory requirements.

Regulatory Compliance

The disclosure complies with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company confirmed that the litigation does not involve key management personnel, promoters, or the ultimate person in control, rendering those specific disclosure requirements not applicable. Additionally, as no settlement has been reached, details regarding terms of settlement or compensation remain not applicable.

What the Numbers Show

The quashing of the administrative order removes an immediate adverse finding against the company, shifting the burden back to the regulatory authority to prove its case afresh. By mandating a fresh adjudication on merits with proper hearing rights, the court ensures that the final outcome will be determined through a complete judicial review rather than relying on the previously set-aside administrative decision. This procedural reset typically extends the timeline for resolution but offers the company a structured opportunity to present its defense comprehensively.

IVP Limited has announced a dividend of ₹1.5 per equity share for the financial year ended March 31, 2026, pending approval by shareholders at the 97th Annual General Meeting scheduled for August 06, 2026. The company outlined the tax implications for the payout, noting that tax will be deducted at source (TDS) in accordance with the Income Tax Act, 2025. The record date for determining dividend eligibility is July 30, 2026, with payouts commencing August 10, 2026.

The Board of Directors recommended the 15% dividend at a meeting held on May 21, 2026. Shareholders are required to ensure their bank account details are updated in their demat accounts or physical folios to facilitate timely credit. The company emphasized that the tax deduction rates will vary based on the residential status of the shareholder and the documentation submitted.

For resident individuals, TDS will be deducted at 10% if a valid Permanent Account Number (PAN) is registered. No tax will be deducted if the total dividend does not exceed ₹10,000 or if the shareholder submits Form 121. In cases where PAN is invalid, not linked with Aadhaar, or unavailable, a higher TDS rate of 20% will apply.

Resident shareholders other than individuals, such as insurance companies, mutual funds, and Alternative Investment Funds, may be exempt from TDS upon submission of specific self-declarations and registration certificates. These entities must provide proof of registration with relevant bodies like the Insurance Regulatory and Development Authority (IRDA) or the Securities and Exchange Board of India (SEBI).

Non-resident shareholders face a withholding tax rate of 20%, plus applicable surcharge and cess, under domestic tax laws. They may opt for benefits under the Double Tax Avoidance Agreement (DTAA) if more favorable. To claim DTAA benefits, non-residents must submit a Tax Residency Certificate for 2026-27, a self-attested PAN copy, and a self-declaration in Form 41.

Shareholders must submit all relevant tax-related documents, including Form 121 and declarations under specific sections of the Act, by July 30, 2026. The company specified that documents received after this date will not be considered, potentially resulting in a higher TDS deduction. IVP Limited clarified that it is not obligated to apply beneficial DTAA rates if the documentation is incomplete or unsatisfactory.