Date: September 29, 2026
Other Operational / Legal / Strategic Disclosures
The Company has received a penalty order from the Income Tax Department, National Faceless Penalty Centre.
Details of the Order:
- Authority: Income Tax Department, National Faceless Penalty Centre
- Nature of Order: Penalty order under section 271(1)(c) of the Income-tax Act, 1961
- Penalty Amount: ₹29,253,601/- (₹29.25 crore)
- Assessment Year: 2010-11
- Allegation: Furnishing of inaccurate particulars of income
- Date of Receipt: September 29, 2026
Company's Response and Assessment:
- The Company believes the penalty order is not sustainable
- The Company is taking necessary steps to appeal against the order before the appropriate Authority
- The Company is hopeful of a favourable outcome at the appellate level
- Based on the Company's assessment, there will be no impact on its financials, operations or other activities due to this order