New India Assurance Receives ₹42.7 Crore Tax Penalty

Disclosure under Regulation 30 of SEBI LODR Regulations

Details of the Action/Order

• Authority: Assessment Unit, Income Tax Department
• Reference Number: NIBA/PNL/F/270A/2026-27/1089630423
• Nature of Order: Penalty order received by the company under section 270A of the Income Tax Act, 1961 for Assessment Year 2017-18
• Date of Receipt: 11th June 2026 at 23:49 hours

Violation/Contravention Details

Levy of penalty under section 270A of Income Tax Act, 1961 for alleged violations/contraventions committed.

Financial Impact

• Penalty Amount: ₹42,73,08,431 (Rupees Forty Two Crore Seventy Three Lakh Eight Thousand Four Hundred Thirty One Only)
• Accounting Treatment: The amount will be shown as a contingent liability in the financial statements of the company

Company's Response

The company intends to pursue an appeal before the National Faceless Appeal Center (NFAC) or explore other legal options against the said order.