Rane Subsidiary Gets Madras HC Stay on ₹3.63 Crore Tax Penalty

Rane Holdings discloses Madras High Court stay order setting aside a ₹3.63 crore income tax penalty against subsidiary Rane Steering Systems.
The court remanded the case for Assessment Year 2015-16 back to the tax assessment unit for fresh consideration.
The company states there is no expected financial implication from this development for the listed entity.
The disclosure is a regulatory compliance under SEBI LODR for material subsidiary litigation.