Bansal Wire discloses Delhi High Court order quashing pre-resolution plan income tax demands against its wholly-owned subsidiary Bansal Steel & Power.
The court quashed two tax demands totaling ₹78.14 million plus ₹10.69 million interest for assessment years 2015-16 and 2017-18 under clean slate theory.
The order reaffirms the company's compliance framework and has no financial impact, as disclosed in the company's IPO prospectus.
Disclosure made under SEBI Listing Regulations 30 regarding legal proceedings involving subsidiary company tax matters.