Key Quantitative Figures

  • Maximum compoundable liability: ₹2,000,000 (Two Million Rupees)
  • Financial year involved: 2017-18
  • All applicable interest, late fee, and TDS amounts have been paid according to the company

Dates of Action

  • October 24, 2026: Date of disclosure filing
  • June 14, 2025: Date of Red Herring Prospectus filing where matter was initially disclosed
  • FY 2017-18: Financial year to which the tax matter pertains

Parties Involved

Complainant: Income Tax Office through Deputy Commissioner of Income Tax, Circle-74(1), Delhi

Defendants:

  • GLOBE CIVIL PROJECTS LIMITED (the Company)
  • Company's principal officers/directors (named as accused/respondents)
  • Company's promoters (named as accused/respondents)

Regulatory Authority: Commissioner of Income Tax (TDS)-1, New Delhi

Judicial Forum: Court of LD. ACIM (Special Acts), Central District, Tis Hazari Courts, Delhi

Purpose/Rationale

The disclosure provides an update on previously disclosed litigation matter regarding delayed deposit of TDS for financial year 2017-18, specifically noting the receipt of the formal complaint filed by the Income Tax Department.

Financial Impact

  • The company states that all applicable interest, late fee, and TDS amounts have been paid
  • No liability exists for the relevant Financial Year 2017-18 in the books of accounts
  • The matter is compoundable with maximum liability of ₹2,000,000
  • Financial impact of any potential settlement not quantified in current disclosure

Capital Structure Impact

No impact on capital structure disclosed.

Forward-looking Steps

The Company shall take appropriate steps in accordance with applicable law to address the complaint presently pending before the Hon'ble Court.

Additional Context

The matter was previously disclosed in the Red Herring Prospectus filed on June 14, 2025, prior to the company's listing. The company had made multiple submissions before the Commissioner of Income Tax (TDS)-1, New Delhi requesting that proceedings be dropped, arguing that TDS was deposited before the filing of Tax Audit Report for FY 2017-18.

#GLOBE CIVIL PROJECTS LIMITED #SEBIDisclosure #Regulation30 #TaxLitigation #Neutral