Mumbai, Jan. 6 -- Following the signing of APA, contingent liabilities of Rs 172.43 crore related to direct taxes will become Nil. In Addition, contingency amount of Rs 315.30 crore related to royalty payments to LG Electronics Inc., Korea (Promoter) will also become Nil.

The company will incur net tax expense of Rs 17.71 crore (excluding applicable interest, which will be computed as per payment date). Further, LG Electronics India will be required to make net payment of Rs 3.85 crore to LG Electronics Inc. under the secondary adjustment provisions in compliance with India's transfer pricing regulations.

Earlier, the company had filed advance pricing agreement application dated March 29, 2018, with the Tax Authorities of India for the ...