Mafatlal Industries Ltd

Integrated Filing — Corporate Governance (NSE XBRL)

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Filing Summary

Company
Mafatlal Industries Limited
Symbol
MAFATIND
Quarter Ended
31-Mar-2026
Submission
New

General Disclosures

Advertisements As Per Regulation471
Yes
Annual Return As Provided Under Section92Of The Companies Act2013
Yes
Approval For Material Related Party Transactions
Not Applicable
Approval Of The Board And Shareholders For Compensation Or Profit Sharing
Not Applicable
Audio Or Video Recordings And Transcripts Of Post Earinings Or Quarterly Calls
Not Applicable
Board Composition
Yes
Code Of Conduct
Yes
Compliance Certificate
Yes
Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation
Yes
Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46
Yes
Credit Rating Or Revision In Credit Rating Obtained
Yes
Date Of End Of Financial Year
31-Mar-2026
Date Of End Of Reporting Period
31-Mar-2026
Date Of Signing
22-Apr-2026
Date Of Start Of Financial Year
01-Apr-2025
Designation Of Person
Company Secretary
Designation Of Person Affirmations
Company Secretary
Designation Of Person For Annual Affirmations
Company Secretary
Designation Of Person For Quartely Affirmations
Company Secretary
Details Of Agreements Entered Into With The Media Companies And Or Their Associates
Not Applicable
Details Of Business
Yes
Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy
Yes
Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30
Yes
Disclosure Of Related Party Transactions On Consolidated Basis
Yes
Disclosure Web Link Of Annual Return As Provided Under Section92Of The Companies Act2013Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Advertisements As Per Regulation471Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Dividend Distribution Policy As Per Regulation43A1Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Materiality Policy As Per Sub Regulation4Regulation30Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Credit Rating Or Revision In Credit Rating Obtained Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Details Of Business Is Placed
https://www.mafatlals.com/about-us/
Disclosure Web Link Of Company At Which Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Financial Results Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Policy For Determining Material Subsidiaries Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Policy On Dealing With Related Party Transactions Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Shareholding Pattern Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Disclosures Under Sub Regulation8Of Regulation30Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Employee Benefit Scheme Documents Framed In Terms Of SEBI Share Based Employee Benefits And Sweat Equity Regulations2021Is Placed
https://www.mafatlals.com/investos/
Disclosure Web Link Of Memorandum Of Association And Articles Of Association Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Secretarial Compliance Report Is Placed
https://www.mafatlals.com/investors/
Disclosures Under Sub Regulation8Of Regulation30
Yes
Dividend Distribution Policy As Per Regulation43A1
Yes
Employee Benefit Scheme Documents Framed In Terms Of SEBI Share Based Employee Benefits And Sweat Equity Regulations2021
Yes
Fees Or Compensation
Yes
Financial Results
Yes
Is SCORESID Available
Yes
ISIN
INE270B01035
Market Capitalisation As Per Immediate Previous Financial Year
Top 2000 listed entities
Materiality Policy As Per Sub Regulation4Regulation30
Yes
Memorandum Of Association And Articles Of Association
Yes
Minimum Information
Yes
MSEI Symbol
NOTLISTED
Name Of Signatory
Amish Shah
Name Of Signatory Affirmations
Amish Shah
Name Of Signatory For Annual Affirmations
Amish Shah
Name Of Signatory For Quartely Affirmations
Amish Shah
Name Of The Company
Mafatlal Industries Limited
New Name And The Old Name Of The Listed Entity
Not Applicable
Other Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity
Yes
Place
Ahmedabad
Plans For Orderly Succession For Appointments
Yes
Policy For Determining Material Subsidiaries
Yes
Policy For Related Party Transaction
Yes
Policy On Dealing With Related Party Transactions
Yes
Reason For Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity
Not Applicable.
Recommendation Of Board
Yes
Reporting Quarter
Yearly
Review Of Compliance Reports
Yes
Risk Assessment And Management
Yes
Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet
Yes
SCORES Registration ID
m00021
Scrip Code
500264
Secretarial Compliance Report
Yes
Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity
Yes
Shareholding Pattern
Yes
Statements Of Deviations Or Variations As Specified In Regulation32
Not Applicable
Symbol
NOTLISTED
The Listed Entity Has Approved Material Subsidiary Policy And The Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity Have Been Complied
Yes
Type Of Company
Equity
Type Of Submission
Original
Vacancies In Respect Key Managerial Personnel
Yes
Vigil Mechanism
Yes
Whether As Per Sub Regulation2ba Of Regulation27Of SEBILODR There Has Been Cyber Security Incidents During The Quarter
No
Whether Part A Of Annexure I Of The SEBI Circular Dated31December2024Related To Compliance Report On Corporate Governance Is Applicable To The Entity
Yes
Whether Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Applicable To The Entity
No

Additional Disclosures

Entry D_MeetingBOD1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD3
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit3
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit4
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit5
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit6
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit7
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit8
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit9
Whether Requirement Of Quorum Met
Yes
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Board Composition — Entity Disclosures

The Composition Of Board Of Directors Is In Terms Of Sebi Regulations2015
Yes
Chairperson Related to MD / CEO
Yes
Regular Chairperson
Yes

Composition of Board of Directors

SrTitleDirectorPANDINCategory 1Category 2Category 3Date of BirthDisqualifiedStatusSpecial ResolutionSpecial Resolution DateInitial AppointmentRe-appointmentTenure (months)Listed DirectorshipsIndependent DirectorshipsAudit / Stakeholder MembershipsAudit / Stakeholder Chair Posts
1MrHrishikesh A. Mafatlal******00009872Executive DirectorChairperson related to Promoter24-Nov-1954NoActiveNot Applicable02-Aug-202403-May-197901-Nov-20212020
2MrPriyavrata H. Mafatlal******02433237Executive DirectorNot ApplicableMD18-Feb-1987NoActiveNot Applicable01-Nov-201601-Jul-20202011
3MrAtul K. Srivastava******00046776Non-Executive - Independent DirectorNot Applicable10-Feb-1952NoActiveYes02-Aug-202410-Oct-201205-Aug-2024802212
4MrAshutosh S. Bishnoi******02926849Non-Executive - Independent DirectorNot Applicable18-May-1961NoActiveNot Applicable27-May-202402-Aug-2024221110
5MrAbhay R. Jadeja******03319142Non-Executive - Independent DirectorNot Applicable26-Dec-1982NoActiveNot Applicable27-May-202402-Aug-2024223321
6MrJyotin K. Mehta******00033518Non-Executive - Independent DirectorNot Applicable16-Feb-1958NoActiveNot Applicable26-Oct-202426-Oct-2024174455
7MrDesh Deepak Khetrapal******02362633Non-Executive - Independent DirectorNot Applicable05-Jul-1955NoActiveNot Applicable04-Feb-202504-Feb-2025142130
8MsArchana N. Hingorani******00028037Non-Executive - Independent DirectorNot Applicable09-Sep-1965NoActiveNot Applicable04-Feb-202504-Feb-2025146643

Committee Disclosures

Entry CompComit122
Date of Appointment
25-Mar-2014
Entry CompComit123
Date of Appointment
15-May-2025
Entry CompComit124
Date of Appointment
25-Oct-2016
Entry CompComit14
Date of Appointment
02-Aug-2024
Entry CompComit15
Date of Appointment
16-Apr-2025
Entry CompComit16
Date of Appointment
16-Apr-2025
Entry CompComit17
Date of Appointment
16-Apr-2025
Entry CompComit41
Date of Appointment
02-Aug-2024
Entry CompComit42
Date of Appointment
15-May-2025
Entry CompComit43
Date of Appointment
15-May-2025
Entry CompComit44
Date of Appointment
15-May-2025
Entry CompComit68
Date of Appointment
02-Aug-2024
Entry CompComit69
Date of Appointment
15-May-2025
Entry CompComit70
Date of Appointment
04-Aug-2014
Entry CompComit71
Date of Appointment
15-May-2025
Entry MainD
Composition And Role Of Risk Management Committee
Not Applicable
Composition Of Audit Committee
Yes
Composition Of Nomination And Remuneration Committee
Yes
Composition Of Stakeholder Relationship Committee
Yes
Composition Of Various Committees Of Board Of Directors
Yes
Disclosure Web Link Of Company At Which Composition Of Various Committees Of Board Of Directors Is Placed
https://www.mafatlals.com/investors/
Memberships In Committees
Yes
Prior Or Omnibus Approval Of Audit Committee For All Related Party Transactions
Yes
Risk Management Committee
No
Role Of Audit Committee And Information To Be Reviewed By The Audit Committee
Yes
Role Of Nomination And Remuneration Committee
Yes
Role Of Stakeholders Relationship Committee
Yes
The Committee Members Have Been Made Aware Of Their Powers Role And Responsibilities As Specified In Sebi Regulations2015
Yes
The Composition Of Audit Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Nomination And Remuneration Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Risk Management Committee Is In Terms Of Sebi Regulations2015
Not Applicable
The Composition Of The Stakeholders Relationship Committee Committee Is In Terms Of Sebi Regulations2015
Yes
Whether The Audit Committee Has A Regular Chairperson
Yes
Whether The Corporate Social Responsibility Committee Has A Regular Chairperson
Yes
Whether The Nomination And Remuneration Committee Has A Regular Chairperson
Yes
Whether The Stakeholders Relationship Committee Has A Regular Chairperson
Yes

Audit Committee

Additional Position
Chairperson
Director DIN
00046776
Member Name
Atul K. Srivastava
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
00033518
Member Name
Jyotin K. Mehta
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
02926849
Member Name
Ashutosh S. Bishnoi
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
00028037
Member Name
Archana N. Hingorani
Position
Non-Executive - Independent Director

Audit Committee

Audit Committee

Audit Committee

Corporate Social Responsibility Committee

Additional Position
Chairperson
Director DIN
00009872
Member Name
Hrishikesh A. Mafatlal
Position
Executive Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
03319142
Member Name
Abhay R. Jadeja
Position
Non-Executive - Independent Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
00046776
Member Name
Atul K. Srivastava
Position
Non-Executive - Independent Director

Corporate Social Responsibility Committee

Nomination and remuneration committee

Additional Position
Chairperson
Director DIN
02926849
Member Name
Ashutosh S. Bishnoi
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
00033518
Member Name
Jyotin K. Mehta
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
02362633
Member Name
Desh Deepak Khetrapal
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
00009872
Member Name
Hrishikesh A. Mafatlal
Position
Executive Director

Other Committee

Additional Position
Chairperson
Director DIN
00009872
Member Name
Hrishikesh A. Mafatlal
Name Of Other Committee
Share Allotment Committee
Position
Executive Director

Other Committee

Additional Position
Member
Director DIN
02433237
Member Name
Priyavrata H. Mafatlal
Name Of Other Committee
Share Allotment Committee
Position
Executive Director

Other Committee

Additional Position
Member
Director DIN
03319142
Member Name
Abhay R. Jadeja
Name Of Other Committee
Share Allotment Committee
Position
Non-Executive - Independent Director

Other Committee

Name Of Other Committee
Independent Committee

Other Committee

Name Of Other Committee
Independent Committee

Other Committee

Name Of Other Committee
Share Allotment Committee

Other Committee

Name Of Other Committee
Share Allotment Committee

Stakeholders Relationship Committee

Additional Position
Chairperson
Director DIN
03319142
Member Name
Abhay R. Jadeja
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
02362633
Member Name
Desh Deepak Khetrapal
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
00009872
Member Name
Hrishikesh A. Mafatlal
Position
Executive Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
02433237
Member Name
Priyavrata H. Mafatlal
Position
Executive Director

Stakeholders Relationship Committee

Entry MainD
Gap Between The Meetings Of The Risk Management Committee
Not Applicable
Meeting Of Audit Committee
Yes
Meeting Of Board Of Directors
Yes
Meeting Of Independent Directors
Yes
Meeting Of Nomination And Remuneration Committee
Yes
Meeting Of Risk Management Committee
Not Applicable
Meeting Of Stakeholders Relationship Committee
Yes
Quorum Of Board Meeting
Yes
Quorum Of Nomination And Remuneration Committee Meeting
Yes
Quorum Of Risk Management Committeemeeting
Not Applicable
The Meetings Of The Board Of Directors And The Above Committees Have Been Conducted In The Manner As Specified In Sebi Regulations2015
Yes
Entry MeetingBOD1
Dates Of Meeting In The Previous Quarter
04-Nov-2025
Number Of Directors Present In Meeting Of Board Of Directors
8
Number Of Independent Directors Attending The Meeting
6
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingBOD2
Dates Of Meeting If Any In The Relevant Quarter
30-Jan-2026
Maximum Gap Between Any Two Consecutive Meetings
86
Number Of Directors Present In Meeting Of Board Of Directors
8
Number Of Independent Directors Attending The Meeting
6
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingBOD3
Dates Of Meeting If Any In The Relevant Quarter
24-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
52
Number Of Directors Present In Meeting Of Board Of Directors
7
Number Of Independent Directors Attending The Meeting
5
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingComit1
Dates Of Meeting Of The Committee In The Previous Quarter
04-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
6
Number Of Independent Director Attending Meeting Of Committee
6
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
6
Entry MeetingComit2
Dates Of Meeting Of The Committee In The Relevant Quarter
24-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
139
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
5
Number Of Independent Director Attending Meeting Of Committee
5
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
6
Entry MeetingComit3
Dates Of Meeting Of The Committee In The Previous Quarter
04-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
4
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit4
Dates Of Meeting Of The Committee In The Relevant Quarter
30-Jan-2026
Maximum Gap Between Any Two Consecutive Meetings
86
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
4
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit5
Dates Of Meeting Of The Committee In The Relevant Quarter
24-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
52
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit6
Dates Of Meeting Of The Committee In The Previous Quarter
04-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
1
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit7
Dates Of Meeting Of The Committee In The Relevant Quarter
30-Jan-2026
Maximum Gap Between Any Two Consecutive Meetings
86
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
1
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit8
Dates Of Meeting Of The Committee In The Previous Quarter
17-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit9
Dates Of Meeting Of The Committee In The Relevant Quarter
24-Mar-2026
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MainD
Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances
Yes
Disclosure Web Link Of Company At Which Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances Is Placed
https://www.mafatlals.com/investors/
Disclosure Web Link Of Company At Which Email Address For Grievance Redressal And Other Relevant Details Is Placed
https://www.mafatlals.com/investors/
Email Address For Grievance Redressal And Other Relevant Details
Yes
No Of Investor Complaints Disposed Off During The Period
3
No Of Investor Complaints During The Period
0
No Of Investor Complaints Received During The Period
3
Whether Part B Of Annexure I Of The SEBI Circular Dated31December2024Related To Investor Grievance Redressal Report Is Applicable To The Entity
Yes
Entry MainI
No Of Investor Complaints
0
Entry PY_I
No Of Investor Complaints
0
Composition Of Board Of Directors Of Unlisted Material Subsidiary
Not Applicable
Reason For Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Not Applicable To The Entity
Not Applicable.
Whether Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Applicable To The Entity
No
Entry I_OngoingTaxLitigationsOrDisputes1
Current Status
The matter is yet to be heard by the Honourable High court of Gujarat.
Date of Initiation
01-Apr-2007
Opposing Party
Customs Excise & Service Tax Appellate Tribunal (CESTAT)
Status (Previous Disclosure)
The department has filed an appeal in the High Court of Gujarat against the favourable order issued by the Customs, Excise and Services Tax Appellate Tribunal ('CESTAT'). The amount involved in dispute is Rs. 29.61 crores.
Entry I_OngoingTaxLitigationsOrDisputes2
Current Status
The appeals are yet to be heard.
Date of Initiation
01-Apr-2000
Opposing Party
Commissioner of Income Tax (Appeals)
Status (Previous Disclosure)
Various Income tax matters pertaining to AY 1997-98 and AY 1998-99 (of Mishapar Investments Limited and Sushmita Holdings Limited, later on amalgamated with Mafatlal Industries Limited) amounting to ₹ 1.95 Crs are pending at appeal stage for hearing. Further income tax matters of AY 2012-13, AY 2014-15, AY 2015-16, AY 2018-19 and AY 2019-20 of Mafatlal Industries Limited amounting to ₹ 23.95 Crs are pending at appeal stage for hearing.
Entry I_OngoingTaxLitigationsOrDisputes3
Current Status
The appeal was dismissed by the Commissioner of Appeals in October 2025. The company has filed a further appeal before the GST Appellate Tribunal (GSTAT) in the month of April 2026.
Date of Initiation
30-Apr-2025
Opposing Party
Commissioner (Appeals-I), CGST & Central Excise, Mumbai South
Status (Previous Disclosure)
CGST Department has issued order under section 74 of CGST Act with respect to GST Audit conducted under section 65 of CGST Act, 2017 read with Rule 101 of the CGST Rule 2017, for the period July 2017 to March 2020. A tax demand of Rs. 1.03 Crs is raised on the grounds of excess avaiIment of Input Tax Credit (ITC) and short payment of tax liability. The company has filed an appeal in the month of April 2025.
Entry MainD
Whether Part E Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Updates To Ongoing Tax Litigations Or Disputes Is Applicable To The Entity
Yes
Entry I_ImpositionOfFineOrPenalty1
Authority
Assistant Commissioner of Income Tax, Central Circle 8(2), Mumbai
Date Of Receipt Of Direction Or Order Including Any Ad Interim Or Interim Orders Or Any Other Communication From The Authority
20-Mar-2026
Financial / Operational Impact
The Company has undertaken all appropriate legal measures, including filing a rectification application against the aforementioned order. The rectified order, received in April 2026, reflects a nil demand. Accordingly, the Company does not anticipate any material impact on its financial position, operations, or other activities.
Nature And Details Of The Action Taken Or Order Passed
Completion of assessment proceedings u/s 143(3) and issuance of order and demand notice u/s 156 of the Income Tax Act, 1961 with respect to Assessment Year 2024-25.
Violation Details
The assessment proceedings under Section 143(3) of the Income Tax Act, 1961 have been completed with no addition or disallowance to the returned income of the Company. However, it has been observed that the computation sheet accompanying the assessment order has been erroneously generated, resulting in an incorrect calculation of tax payable amounting to ₹ 2.04 Crs and consequent issuance of a demand notice under Section 156 of the Income Tax Act, 1961.The said error, being a mistake apparent on record, has been taken up by the Company through a rectification application filed with the Income Tax department.
Entry MainD
Whether Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Applicable To The Entity
Yes