CIT appellate orders dated March 30, 2026 set aside ₹58.33 crore income tax demand against promoter Nagakanaka Durga Prasad Chalavadi.
Only ₹85.79 lakh disallowed on documentation grounds, resulting in an estimated personal tax liability of ~₹50 lakh for the promoter.
The company clarifies zero financial or operational impact; tax proceedings from May 2023 search and seizure stand fully concluded.