Date: June 2, 2026
Regulatory Disclosure Details
This is a disclosure made pursuant to Regulation 30(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations) read with Clause 20 of Para A of Part A of Schedule III of the LODR Regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
Legal / Strategic Disclosures
Annexure A Disclosure
Date of receipt of order: May 29, 2026
Nature of Order: Dismissal of appeal filed by the Income Tax Officer (ITO) before the Income Tax Appellate Tribunal (ITAT), New Delhi.
Background of Case:
- The company previously received an order under section 201 of the Income Tax Act, 1961 pertaining to the non-deduction/lower deduction of tax on interest payment made to foreign NCD holders.
- The company was treated as "deemed to be an assessee in default."
- The allegation was that interest payment should attract tax withholding @ 20% plus cess and surcharge u/s 196D read with section 115AD of the Act instead of tax already withheld @5% plus cess and surcharge under section 194LD of the Act.
- The original demand was for ₹16,62,03,454/- in total including interest but excluding penalty (Total tax liability: ₹9,54,65,663/- and interest liability: ₹7,07,37,791/-).
- The company filed an appeal against this order on July 12, 2024, which was decided in favor of the company, resulting in deletion of the demand.
- The ITO subsequently filed an appeal before ITAT on September 29, 2025, challenging the order passed by CIT(A) u/s 250 of the Act on July 28, 2025.
- This appeal has now been dismissed by ITAT, New Delhi.
Financial Impact: No impact on financials, operation or other activities of the Company.
Update on Show Cause Notice: The Company has now received an order where total demand of ₹16,62,03,454/- has been dismissed.
Annexure B Disclosure
Authority: Income Tax Appellate Tribunal, New Delhi [Appellant: Income Tax Officer, Ward 1(3)(1) (Intl. Tax)]
Date of receipt of order: May 29, 2026
Nature of Order: The order passed by ITAT New Delhi dismisses the appeal filed by the ITO; the order was passed under section 250 of the Income Tax Act, 1961 for AY 2021-22 regarding a demand of ₹11,18,43,066/- in total including interest but excluding penalty (Total tax liability: ₹7,10,23,805/- and interest liability: ₹4,08,19,261/-).
Background of Case:
- Similar to Annexure A, this case pertains to the same alleged violation under section 201 of the Act regarding non-deduction/lower deduction of tax on interest payment made to foreign NCD holders.
- The company was treated as "deemed to be an assessee in default" with the same allegation about incorrect tax withholding rates.
- The company filed an appeal on July 12, 2024, which was decided in its favor, resulting in deletion of the demand.
- The ITO filed an appeal before ITAT on September 29, 2025, challenging the order passed by CIT(A) u/s 250 of the Act on July 28, 2025.
- This appeal has now been dismissed by ITAT, New Delhi.
Financial Impact: No impact on financials, operation or other activities of the Company.
Update on Show Cause Notice: The Company has now received an order where total demand of ₹11,18,43,066/- has been dismissed.
Explanation for Delay in Disclosure
The Order dated May 29, 2026 passed by ITAT was uploaded on its official website, but the Company did not receive intimation of the order via email. The Company became aware of the Order during its routine review of communication issued on the ITAT website.
Signature Details
Place: Gurugram