FGP Limited Receives Rs. 52.57 Lakh Income Tax Refund for Assessment Year 2006-07

FGP Limited , a Mumbai-based company, has announced the receipt of a significant income tax refund amounting to Rs. 52.57 lakh for the Assessment Year 2006-07. The refund, which includes interest, was credited to the company on August 25, following an order that gave effect to a ruling by the Hon'ble Income Tax Appellate Tribunal (ITAT).

Refund Details

The company disclosed that the refund of Rs. 52,56,617 (Rupees Fifty-Two Lakh Fifty-Six Thousand Six Hundred Seventeen Only) was received on August 25. This amount encompasses both the principal refund and the accrued interest for the Assessment Year 2006-07.

Regulatory Compliance

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, FGP Limited promptly informed the BSE Limited about this development. The disclosure was made through an official communication signed by Sapna Dubey, the Chief Financial Officer of the company.

Impact and Significance

While the company has not provided specific details on how this refund will be utilized, such inflows can potentially strengthen a company's financial position. For FGP Limited, this refund represents a positive outcome in its dealings with tax authorities and may contribute to its cash reserves.

About FGP Limited

FGP Limited, with its registered office at Commercial Union House, 9 Wallace Street, Fort, Mumbai, is a publicly listed company on the BSE. The company operates under the CIN: L26100MH1962PLC012406.