Archean Chemical Industries Limited has intimated the National Stock Exchange of India Limited and BSE Limited about receiving a penalty order under the Income Tax Act, 1961. This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Nature of the Event
The company received a penalty order from the Deputy Commissioner of Income Tax, Central Circle 1(4), Chennai, under section 274 read with section 270A of the Income Tax Act, 1961.
Key Quantitative Figures
The penalty amount is ₹34,24,248 (Thirty-Four Lakh Twenty-Four Thousand Two Hundred Forty-Eight Rupees) for the Assessment Year 2017-18.
Dates of Action
The order was received by the company on June 30, 2026. The intimation to the stock exchanges was made on July 01, 2026.
Authority Details
The order was passed by the Deputy Commissioner of Income Tax, Central Circle 1(4), Chennai.
Nature of Violation
The penalty proceeding is for under-reported income which is in consequence of misreporting thereof.
Company Response and Financial Impact
The company will be contesting the order by filing an appeal before the Commissioner of Income Tax (Appeals) within the prescribed timelines. Based on a preliminary assessment, the company does not reasonably expect the order to have any material financial impact. The financial impact of the demand, if any, is limited to the amount of the Income Tax and Interest specified in the penalty order.
Additional Information
The complete details are provided in Annexure-I attached to the disclosure. The information is also available on the company's website at www.archeanchemicals.com.