Legal16 May 2025, 04:01 pm
Paradeep Phosphates Ltd. Wins Case, to Receive ₹53.50 Crores Subsidy from Government
AI Summary
Paradeep Phosphates Ltd. has won a court case against the Department of Fertilizers, Ministry of Chemicals and Fertilizers, Government of India. The Hon’ble High Court of Delhi has ordered the Department to release a subsidy amount of ₹53.50 crores under the Nutrient Based Subsidy (NBS) Scheme within six weeks. This subsidy pertains to a consignment of imported Di-Ammonium Phosphate (DAP) fertilizer supplied to various states in 2013. The court order is expected to have a positive impact on the Company’s financials.
Key Highlights
- Paradeep Phosphates Ltd. wins a court case against the Department of Fertilizers, Ministry of Chemicals and Fertilizers, Government of India
- The Hon’ble High Court of Delhi orders the Department to release a subsidy of ₹53.50 crores under the NBS Scheme
- The subsidy pertains to a consignment of imported Di-Ammonium Phosphate (DAP) fertilizer supplied to various states in 2013
- The court order is expected to have a positive impact on the Company’s financials
- The subsidy amount was withheld based on a laboratory test report classifying the consignment as non-standard