Nureca Limited has concluded a pending Goods and Services Tax (GST) dispute by receiving a Final Order of Rectification under Section 161 of the CGST Act, 2017. The resolution pertains to a tax order for the period 2021-22 and was finalized on August 07, 2026, following the payment of outstanding dues. This closure eliminates any further regulatory demand from the concerned authority regarding this specific tax period.

The settlement was achieved through the reversal of Input Tax Credit (ITC) rather than a cash outflow, preserving the company’s immediate liquidity position. The total value of the dues settled amounted to Rs. 15,40,311. By opting for ITC reversal, Nureca Limited addressed the compliance requirement while managing its working capital efficiently, a common strategy in indirect tax disputes where credit balances are available.

Settlement Details

The financial impact of the resolution is limited to the reversal of tax credits, as detailed below:

Regulatory Disclosure

Nureca Limited made this disclosure pursuant to Regulation 30(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was issued to both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) to ensure transparency with investors. The notice was signed by Nishu Kansal, Company Secretary & Compliance Officer, confirming that the matter stands fully concluded with no further liabilities arising from the original order.

What the Numbers Show

The use of Input Tax Credit reversal to settle the Rs. 15,40,311 liability indicates that the dispute did not result in an additional cash burden for the company. In GST litigation, settlements often involve penalties or interest payments in cash; however, a pure ITC reversal suggests the core issue was likely related to the eligibility or matching of input credits rather than a fundamental evasion of tax liability. This outcome neutralizes the regulatory risk associated with the 2021-22 period without impacting the company’s cash flow statement.

Nureca Limited concluded its 10th Annual General Meeting (AGM) on July 28, 2026, with shareholders approving all four resolutions — including the adoption of financial statements for the fiscal year ended March 31, 2026 and key changes to the Board of Directors. The meeting was held via Video Conferencing/Other Audio Visual Means (VC/OAVM), commencing at 11:30 AM IST and closing at 12:18 PM IST. The company subsequently filed the consolidated Scrutinizer's Report under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming the outcome of remote e-voting and e-voting conducted during the meeting.

The e-voting window was open from July 25, 2026 (9:00 AM) to July 27, 2026 (5:00 PM), facilitated through Central Depository Services (India) Limited (CDSL). Members whose names appeared in the Register of Members as on the cut-off date of July 21, 2026 were entitled to vote. The total number of shareholders on the record date stood at 34,178. Of these, 2 shareholders from the Promoter and Promoter Group and 51 public shareholders attended the meeting through Video Conferencing. Mr. Prince Chadha of M/s P. Chadha & Associates was appointed as Scrutinizer to oversee the e-voting process and ensure fair and transparent proceedings.

Key Resolutions Passed

All four resolutions proposed at the AGM were passed with requisite majority. The following table summarises the resolutions transacted:

Detailed Voting Results

The Scrutinizer's consolidated report provided agenda-wise breakdowns of votes cast across shareholder categories. The results for each resolution are presented below.

Resolution 1 & 2 — Ordinary Business (Financial Statements Adoption & Director Reappointment)

Both ordinary resolutions recorded identical voting patterns. A total of 9,541,920 shares were held across all categories, with 6,502,150 votes polled, representing 68.14% of outstanding shares.

No invalid votes were recorded. The resolutions were passed with 99.9974% votes in favour and 0.0026% against.

Resolution 3 — Special Business (Reappointment of Managing Director)

For the reappointment of Saurabh Goyal as Managing Director, the Promoter & Promoter Group did not participate in voting, as they were interested parties. A total of 4,974 votes were polled out of 9,541,920 shares held.

No invalid votes were recorded. The resolution was passed with 96.64% votes in favour and 3.36% against.

Resolution 4 — Special Business (Appointment of Whole-time Director)

The appointment of Smita Goyal as Whole-time Director recorded an identical voting pattern to Resolution 3, with the Promoter & Promoter Group abstaining as interested parties.

No invalid votes were recorded. The resolution was passed with 96.64% votes in favour and 3.36% against.

Board Attendance and Management Presence

Saurabh Goyal, Chairman and Managing Director, chaired the meeting. Other directors present included Additional Director Smita Goyal, Independent Directors Vijay Kumar Sharma, Charu Singh, Ruchita Agarwal, and KK Bhasin. Charu Singh also served as Chairperson of the Audit Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee. Independent Director Rupinder Tewari was absent due to a medical emergency, while Whole-time Director Rajinder Sharma was pre-occupied with other commitments. Key management personnel in attendance included Chief Financial Officer Chander Kant and Company Secretary Nishu Kansal. Internal Auditor Gagan Deep Singh of M/s MGSG & Associates and Secretarial Auditor Ajay Arora of M/s A. Arora & Co. were also present. Statutory Auditors M/s Singhi & Co., Chartered Accountants, expressed an unqualified opinion on the audit reports for FY26. The proceedings were conducted in compliance with the Companies Act, 2013, SEBI Listing Regulations, and circulars issued by the Ministry of Corporate Affairs (MCA) and SEBI.