Nature of the Event

Regulatory disclosure providing an update on ongoing litigation concerning a significant income tax demand.

Key Quantitative Figures

The income tax demand in question is for ₹5,827.57 lacs (₹58.28 crore) for Assessment Year 2018-19.

Dates of Action

  • Assessment Order Date: March 18, 2021
  • Writ Petition Filed: Disclosed previously on August 14, 2023
  • High Court Order Date: October 6, 2026
  • Disclosure Date: October 8, 2026

Parties or Entities Involved

  • Listed Entity: Duroply Industries Limited
  • Regulatory/Adjudicating Authority: The Income Tax Department, specifically the Assessing Authority
  • Judicial Authority: The Hon'ble High Court at Calcutta

Purpose or Stated Rationale

The disclosure is made to comply with the continuous disclosure requirements under SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, specifically Regulation 30.

Development in Proceedings

The Hon'ble High Court at Calcutta has passed an order dated October 6, 2026, which:

1. Sets aside the final assessment order passed by the Assessing Authority on March 18, 2021.

2. Remits the matter back to the Assessing Authority.

3. Directs the Assessing Authority to pass an appropriate assessment order after providing the Company an opportunity of placing its case.

Financial or Operational Impact

The disclosure states that the matter is ongoing and has been remanded for fresh assessment. The financial impact of this development is not quantified in the disclosure. The outcome and any potential financial liability depend on the new assessment order to be passed.

Capital Structure Impact

No impact on the capital structure is mentioned.

Cash Flow Implications

No immediate cash flow implications are disclosed, as the case is ongoing and no penalty or settlement amount has been determined or paid.

Status of Litigation

The disclosure confirms that the litigation is not against any key management personnel, promoter, or ultimate person in control. The case has not been settled.

Additional Information

The disclosure will be made available on the company's website at www.duroply.in.

#Tags: #DuroplyIndustries #SEBIRegulation30 #TaxDispute #HighCourt #RegulatoryCompliance #Neutral