GKB Ophthalmics Receives Demand Notice for Recovery of Rs 8.82 Crore in Ongoing Litigation
GKB Ophthalmics Ltd has received a formal "Notice of Demand" from the Office of the Mamlatdar of Bardez Taluka, Mapusa, Goa, regarding outstanding dues related to ongoing legal matters. The notice demands recovery of Rs 8,82,00,856/- within a specified timeframe.The development follows extended litigation concerning an Award passed by the Industrial Tribunal in Panjim-Goa on October 25, 2021. GKB Ophthalmics had challenged this tribunal award via a writ petition filed before the Hon'ble High Court of Bombay at Goa.
The matter was simultaneously pending before the Labour Commissioner for the execution of the Award. In related proceedings, the Labour Commissioner had issued an Order on September 04, 2025, ordering the recovery of Rs 8,82,00,856/- from GKB Ophthalmics Ltd.
In continuation of this process, the company received the Notice of Demand from the Office of the Mamlatdar of Bardez Taluka, Mapusa, on July 13, 2026. The notice mandates that the dues be recovered within a period of 10 days.
The company has stated that it will be challenging this specific Order before the Hon'ble High Court of Bombay by filing a writ petition seeking appropriate relief in consultation with its legal counsel.
Details related to the litigation status include:
| Status Area | Development |
|---|---|
| Notice Received | A 'Notice of Demand' from the Office of the Mamlatdar of Bardez Taluka, Mapusa, Goa, for recovery of Rs 8,82,00,856/-. |
| Deadline | Within a period of 10 days from the date of service (July 13, 2026). |
| Company Response | Challenging the Order before the Hon'ble High Court of Bombay via a writ petition. |
Stock Price Movement
As of 14:40, GKB Ophthalmics shares are slipping after falling 1.53%, trading at ₹58.00. Throughout the session, the stock has seen significant intraday movement, ranging between a low of ₹58.00 and a high of ₹60.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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