Tega Industries Subsidiary Receives ₹121 Cr Tax Demand

Tega McNally Minerals Limited (TMML), a wholly owned material subsidiary of Tega Industries, received an income tax Assessment Order from ACIT, Kolkata.
The tax demand under Section 143(3) read with Section 147 of Income-tax Act, 1961 totals ₹1,21,14,12,580 (approx. ₹121 crore) including interest for AY 2018–19.
The order pertains to pre-NCLT acquisition period (April 2017–March 2018); Tega Industries states no material financial impact and TMML plans to appeal.