Thermax Ltd

Integrated Filing — Corporate Governance (NSE XBRL)

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Filing Summary

Company
Thermax Limited
Symbol
THERMAX
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
Yes
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
13-Apr-2026
Date Of Start Of Financial Year
01-Apr-2025
Designation Of Person
Company Secretary and Compliance Officer
Designation Of Person Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Annual Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Quartely Affirmations
Company Secretary and Compliance Officer
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.thermaxglobal.com/annual-returns/
Disclosure Web Link Of Audio Or Video Recordings And Transcripts Of Post Earinings Or Quarterly Calls Is Placed
https://www.thermaxglobal.com/analyst-conference-calls/
Disclosure Web Link Of Company At Advertisements As Per Regulation471Is Placed
https://www.thermaxglobal.com/stock-exchange-notifications/
Disclosure Web Link Of Company At Dividend Distribution Policy As Per Regulation43A1Is Placed
https://www.thermaxglobal.com/wp-content/uploads/2025/03/Dividend-Distribution-Policy_New-1.pdf
Disclosure Web Link Of Company At Materiality Policy As Per Sub Regulation4Regulation30Is Placed
https://www.thermaxglobal.com/wp-content/uploads/2025/05/Materiality-Policy.pdf
Disclosure Web Link Of Company At Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity Is Placed
https://www.thermaxglobal.com/subsidiary-annual-report/
Disclosure Web Link Of Company At Which Credit Rating Or Revision In Credit Rating Obtained Is Placed
https://www.thermaxglobal.com/credit-ratings/
Disclosure Web Link Of Company At Which Details Of Business Is Placed
https://www.thermaxglobal.com/
Disclosure Web Link Of Company At Which Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy Is Placed
https://www.thermaxglobal.com/wp-content/uploads/2024/11/Whistler-Blower-Policy.pdf
Disclosure Web Link Of Company At Which Financial Results Is Placed
https://www.thermaxglobal.com/financial-results/
Disclosure Web Link Of Company At Which Policy For Determining Material Subsidiaries Is Placed
https://www.thermaxglobal.com/wp-content/uploads/2025/03/Policy-on-material-subsidiaries.pdf
Disclosure Web Link Of Company At Which Policy On Dealing With Related Party Transactions Is Placed
https://www.thermaxglobal.com/wp-content/uploads/2025/11/TL-RPT-Policy-Nov-2025.pdf
Disclosure Web Link Of Company At Which Shareholding Pattern Is Placed
https://www.thermaxglobal.com/shareholding-pattern-2/
Disclosure Web Link Of Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation Is Placed
https://www.thermaxglobal.com/
Disclosure Web Link Of Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46Is Placed
https://www.thermaxglobal.com/
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.thermaxglobal.com/key-managerial-personnel/
Disclosure Web Link Of Disclosures Under Sub Regulation8Of Regulation30Is Placed
https://www.thermaxglobal.com/stock-exchange-notifications/
Disclosure Web Link Of Employee Benefit Scheme Documents Framed In Terms Of SEBI Share Based Employee Benefits And Sweat Equity Regulations2021Is Placed
https://www.thermaxglobal.com/thermax-disclosures-under-sebi-sbeb-regulations/
Disclosure Web Link Of Memorandum Of Association And Articles Of Association Is Placed
https://www.thermaxglobal.com/wp-content/uploads/2024/12/TL_MOA_AOA_2024.pdf
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.thermaxglobal.com/investor-presentations/
Disclosure Web Link Of Secretarial Compliance Report Is Placed
https://www.thermaxglobal.com/stock-exchange-notifications/
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
INE152A01029
Market Capitalisation As Per Immediate Previous Financial Year
Top 500 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
SANGEET HUNJAN
Name Of Signatory Affirmations
SANGEET HUNJAN
Name Of Signatory For Annual Affirmations
SANGEET HUNJAN
Name Of Signatory For Quartely Affirmations
SANGEET HUNJAN
Name Of The Company
THERMAX 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
PUNE
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
No such instances during the quarter
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
t00088
Scrip Code
500411
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
THERMAX
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_MeetingBOD4
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD5
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD6
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
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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
No
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
1MrsMEHER PUDUMJEE******00019581Non-Executive - Non Independent DirectorChairperson related to Promoter11-Oct-1966NoActiveNot Applicable15-Jan-200115-Jan-20011010
2MrPHEROZ N PUDUMJEE******00019602Non-Executive - Non Independent DirectorNot Applicable23-Feb-1962NoActiveNot Applicable15-Jan-200131-Jul-20252131
3MrHARSH CHARANDAS MARIWALA******00210342Non-Executive - Independent DirectorNot Applicable14-May-1951NoActiveYes06-Aug-202110-Nov-201610-Nov-2021112.214210
4MrS.B. PANDIT******00075861Non-Executive - Independent DirectorNot Applicable29-Mar-1950NoActiveYes02-Aug-202230-May-201730-May-202201-Feb-01062110
5MrsRAJANI KESARI******02384170Non-Executive - Independent DirectorNot Applicable02-Jul-1971NoActiveNot Applicable14-Nov-201814-Nov-202388.171121
6MrRAVI SHANKAR GOPINATH******00803847Non-Executive - Independent DirectorNot Applicable25-Dec-1965NoActiveNot Applicable10-Nov-202110-Nov-202152.212200
7MrSHYAMAK RAMYAR TATA******07297729Non-Executive - Independent DirectorNot Applicable11-Jul-1963NoActiveNot Applicable17-Oct-202317-Oct-202329.154474
8MrPARAG C SHAH******00374944Non-Executive - Independent DirectorNot Applicable29-Nov-1975NoActiveNot Applicable12-Dec-202412-Dec-202415.24440
9MrASHISH BHANDARI******05291138Executive DirectorNot ApplicableCEO-MD06-May-1971NoActiveNot Applicable01-Sep-202001-Sep-20251010

Committee Disclosures

Entry CompComit122
Date of Appointment
27-May-2014
Entry CompComit123
Date of Appointment
14-Nov-2018
Entry CompComit124
Date of Appointment
22-Jul-2024
Entry CompComit14
Date of Appointment
17-Oct-2023
Entry CompComit15
Date of Appointment
14-Nov-2018
Entry CompComit16
Date of Appointment
09-Nov-2004
Entry CompComit17
Date of Appointment
04-Feb-2025
Entry CompComit41
Date of Appointment
10-Nov-2016
Entry CompComit42
Date of Appointment
06-Mar-2015
Entry CompComit43
Date of Appointment
02-Aug-2022
Entry CompComit44
Date of Appointment
22-Jul-2024
Entry CompComit68
Date of Appointment
02-May-2001
Entry CompComit69
Date of Appointment
02-Mar-2001
Entry CompComit70
Date of Appointment
14-Nov-2018
Entry CompComit71
Date of Appointment
18-Jun-2020
Entry CompComit95
Date of Appointment
22-Jul-2024
Entry CompComit96
Date of Appointment
08-Aug-2019
Entry CompComit97
Date of Appointment
17-Oct-2023
Entry CompComit98
Date of Appointment
22-Jul-2024
Entry MainD
Composition And Role Of Risk Management Committee
Yes
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.thermaxglobal.com/wp-content/uploads/2025/02/Updated_BoardCommitteesComposition.pdf
Memberships In Committees
Yes
Prior Or Omnibus Approval Of Audit Committee For All Related Party Transactions
Yes
Risk Management Committee
Yes
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
Yes
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 Risk Management Committee Has A Regular Chairperson
Yes
Whether The Stakeholders Relationship Committee Has A Regular Chairperson
Yes

Audit Committee

Additional Position
Chairperson
Director DIN
07297729
Member Name
SHYAMAK RAMYAR TATA
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
02384170
Member Name
RAJANI KESARI
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
00019602
Member Name
PHEROZ N PUDUMJEE
Position
Non-Executive - Non Independent Director

Audit Committee

Additional Position
Member
Director DIN
00374944
Member Name
PARAG C SHAH
Position
Non-Executive - Independent Director

Audit Committee

Audit Committee

Audit Committee

Corporate Social Responsibility Committee

Additional Position
Chairperson
Director DIN
00019581
Member Name
MEHER PUDUMJEE
Position
Non-Executive - Non Independent Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
00075861
Member Name
S.B. PANDIT
Position
Non-Executive - Independent Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
07297729
Member Name
SHYAMAK RAMYAR TATA
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Chairperson
Director DIN
00210342
Member Name
HARSH CHARANDAS MARIWALA
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
00019581
Member Name
MEHER PUDUMJEE
Position
Non-Executive - Non Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
00075861
Member Name
S.B. PANDIT
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
00803847
Member Name
RAVI SHANKAR GOPINATH
Position
Non-Executive - Independent Director

Risk Management Committee

Additional Position
Chairperson
Director DIN
00075861
Member Name
S.B. PANDIT
Position
Non-Executive - Independent Director

Risk Management Committee

Additional Position
Member
Director DIN
00019602
Member Name
PHEROZ N PUDUMJEE
Position
Non-Executive - Non Independent Director

Risk Management Committee

Additional Position
Member
Director DIN
07297729
Member Name
SHYAMAK RAMYAR TATA
Position
Non-Executive - Independent Director

Risk Management Committee

Additional Position
Member
Director DIN
00803847
Member Name
RAVI SHANKAR GOPINATH
Position
Non-Executive - Independent Director

Risk Management Committee

Risk Management Committee

Stakeholders Relationship Committee

Additional Position
Chairperson
Director DIN
00019602
Member Name
PHEROZ N PUDUMJEE
Position
Non-Executive - Non Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
00019581
Member Name
MEHER PUDUMJEE
Position
Non-Executive - Non Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
00075861
Member Name
S.B. PANDIT
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
05291138
Member Name
ASHISH BHANDARI
Position
Executive Director
Entry MainD
Gap Between The Meetings Of The Risk Management Committee
Yes
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
Yes
Meeting Of Stakeholders Relationship Committee
Yes
Quorum Of Board Meeting
Yes
Quorum Of Nomination And Remuneration Committee Meeting
Yes
Quorum Of Risk Management Committeemeeting
Yes
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
17-Oct-2025
Number Of Directors Present In Meeting Of Board Of Directors
9
Number Of Independent Directors Attending The Meeting
6
Total Number Of Directors As On Date Of The Meeting
9
Entry MeetingBOD2
Dates Of Meeting In The Previous Quarter
11-Nov-2025
Maximum Gap Between Any Two Consecutive Meetings
24
Number Of Directors Present In Meeting Of Board Of Directors
8
Number Of Independent Directors Attending The Meeting
5
Total Number Of Directors As On Date Of The Meeting
9
Entry MeetingBOD3
Dates Of Meeting If Any In The Relevant Quarter
02-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
82
Number Of Directors Present In Meeting Of Board Of Directors
9
Number Of Independent Directors Attending The Meeting
6
Total Number Of Directors As On Date Of The Meeting
9
Entry MeetingBOD4
Dates Of Meeting If Any In The Relevant Quarter
04-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
1
Number Of Directors Present In Meeting Of Board Of Directors
9
Number Of Independent Directors Attending The Meeting
6
Total Number Of Directors As On Date Of The Meeting
9
Entry MeetingBOD5
Dates Of Meeting If Any In The Relevant Quarter
11-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
34
Number Of Directors Present In Meeting Of Board Of Directors
9
Number Of Independent Directors Attending The Meeting
6
Total Number Of Directors As On Date Of The Meeting
9
Entry MeetingBOD6
Dates Of Meeting If Any In The Relevant Quarter
25-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
13
Number Of Directors Present In Meeting Of Board Of Directors
5
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
9
Entry MeetingComit1
Dates Of Meeting Of The Committee In The Previous Quarter
16-Oct-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
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 MeetingComit2
Dates Of Meeting Of The Committee In The Previous Quarter
11-Nov-2025
Maximum Gap Between Any Two Consecutive Meetings
25
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
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 MeetingComit3
Dates Of Meeting Of The Committee In The Relevant Quarter
02-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
82
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
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 MeetingComit4
Dates Of Meeting Of The Committee In The Previous Quarter
26-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
4
Entry MeetingComit5
Dates Of Meeting Of The Committee In The Relevant Quarter
11-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
104
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
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 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.thermaxglobal.com/investor-services-contact/
Disclosure Web Link Of Company At Which Email Address For Grievance Redressal And Other Relevant Details Is Placed
https://www.thermaxglobal.com/investor-services-contact/
Email Address For Grievance Redressal And Other Relevant Details
Yes
No Of Investor Complaints Disposed Off During The Period
0
No Of Investor Complaints During The Period
0
No Of Investor Complaints Received During The Period
0
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
Entry D_AcquisitionShares1
Percentage Of Shares Or Voting Rights Acquired During The Quarter
-0.0753
Entry D_AcquisitionShares2
Percentage Of Shares Or Voting Rights Acquired During The Quarter
-0.0223
Entry I_AcquisitionShares_PY1
Percentage Of Aggregate Holding Of Shares Or Voting Rights
0.688
Entry I_AcquisitionShares_PY2
Percentage Of Aggregate Holding Of Shares Or Voting Rights
0.7047
Entry I_AcquisitionShares1
Date Of Acquisition
20-Mar-2026
Name Of The Unlisted Company In Which Shares Or Voting Rights Have Been Acquired
First Energy 11 Private Limited
Percentage Of Aggregate Holding Of Shares Or Voting Rights
0.6127
Entry I_AcquisitionShares2
Date Of Acquisition
30-Mar-2026
Name Of The Unlisted Company In Which Shares Or Voting Rights Have Been Acquired
First Energy TN1 Private Limited
Percentage Of Aggregate Holding Of Shares Or Voting Rights
0.6824
Entry MainD
Composition Of Board Of Directors Of Unlisted Material Subsidiary
Yes
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
Yes
Entry I_OngoingTaxLitigationsOrDisputes1
Current Status
There is no further update
Date of Initiation
27-Sep-2024
Opposing Party
Commissioner of Customs (NS-II), JNCH, Nhava Sheva
Status (Previous Disclosure)
Order passed by the Authority for recovery of Customs Duty of Rs. 6.81 Cr., Rs. 2 Cr u/s 125, Rs. 1.20 Cr. u/s 112(a) of Customs Act, 1962. Company has filed the application before CESTAT Mumbai against the demand raised by the Authority.
Entry I_OngoingTaxLitigationsOrDisputes2
Current Status
There is no further update
Date of Initiation
15-Aug-2023
Opposing Party
Income Tax (Government of India)
Status (Previous Disclosure)
Matter related to Legal & Professional Expenses - treated as Capital Expenditure, Liquidated Damages, and Provision for Medical Expenditure & LTA for AY 2005-06 to AY 2009-10. Income Tax Department has filed appeal in High Court. For AY 2006-07 and 2007-08 Hon'ble High Court of Bombay has dismissed Income Tax Departments Appeals vide Order Dated 28.04.2025. In case of other years i.e., AY 2005-06, 2008-09 and 2009-10 there is no development in Q-3 of FY 2025-26.
Entry I_OngoingTaxLitigationsOrDisputes3
Current Status
Matters are pending before VAT Tribunal, Second Appeal (Tribunal) for ITC disallowance for J1-J2 mismatch for AY 2007-08 to 2017-18 (except AY 2008-09). Orders passed in May 2025 are challenged again in the Tribunal and corrigendum application is submitted. Revised Orders are awaited.
Date of Initiation
15-Aug-2023
Opposing Party
Sales Tax, Maharashtra
Status (Previous Disclosure)
The matter for 2017-18 was before first appeal which had got decided in January 2024 and we have received the refund. For other years, matters are pending before VAT Tribunal . We have given our declarations for the same in December 2024 which is under verification. Matter pending before 1st Appeal & Second Appeal (Tribunal) for ITC disallowance for J1-J2 mismatch for AY 2007-08 to 2017-18 (except AY 2008-09).
Entry I_OngoingTaxLitigationsOrDisputes4
Current Status
There is no further update
Date of Initiation
15-Aug-2023
Opposing Party
Sales Tax, Maharashtra
Status (Previous Disclosure)
Assessment of CST dues for AY 2000-01 & AY 2001-02 pending before High Court, Maharashtra.
Entry I_OngoingTaxLitigationsOrDisputes5
Current Status
There is no further update.
Date of Initiation
20-Dec-2024
Opposing Party
Joint Commissioner, CGST, Pune
Status (Previous Disclosure)
Authority has raised the demand on issuance of Corporate Guarantees /Letter of support issued to Banks on behalf of subsidiary companies for the period FY 2017-18 to 2022-23. Appeal filed before Appeallate Authority, CGST Pune.
Entry I_OngoingTaxLitigationsOrDisputes6
Current Status
There is no further update.
Date of Initiation
24-Dec-2023
Opposing Party
Commissioner of CGST & CE, Pune – I
Status (Previous Disclosure)
In the matter of M/s. Thermax Limited Vs. Commissioner of CGST & CE, Pune – I, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai Bench, wherein the CESTAT had allowed the appeal of the Company by setting aside the demands made for Excise Duty under Section 4 of Central Excise Act, 1944 on bought out items supplied to customer along with goods manufactured i.e. Boilers, by the Company. Commissioner of CGST & CE, Pune – I has filed an appeal before the Hon’ble Supreme Court of India.
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
Reason For Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Not Applicable To The Entity
No such instances during the quarter
Whether Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Applicable To The Entity
No