Date: October 16, 2026
Regulatory Disclosure Update
This disclosure serves as an update to the company's earlier intimation dated April 02, 2026, submitted pursuant to Regulation 30 of the SEBI Listing Regulations.
Legal / Strategic Disclosures
Court Matter Resolution:
- Tega McNally Minerals Limited (TMML), a wholly owned material subsidiary, received a favorable order from the Hon'ble Calcutta High Court
- The order relates to a writ petition filed by TMML challenging the validity and maintainability of reassessment proceedings initiated by the Income Tax Department
- Proceedings were for Assessment Year 2017-18 pertaining to pre-NCLT period
- Tax demand including interest amounted to ₹13,78,92,170
Court Order Details:
- Original order date: October 14, 2026
- Rectification order date: October 15, 2026
- The Calcutta High Court set aside the reassessment proceedings initiated against TMML for Assessment Year 2017-18
Impact Assessment:
- No financial impact on the company as the order is favorable to TMML
- The order is expected to support TMML's position in relation to similar matters
- No violations or contraventions were committed or alleged
Regulatory Compliance:
- Disclosure made under Regulation 30 of SEBI Listing Regulations
- Reference to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
- Disclosure will be hosted on company website: www.tegaindustries.com
Authority Details
- Authority: The Hon'ble Calcutta High Court
- Nature of action: Writ petition challenging validity of reassessment proceedings