Rane Holdings subsidiary, RSSL, obtained a stay order from the Madras High Court against an Income Tax Department assessment. The court set aside the prior order and remitted the case back for fresh adjudication. Previously, a penalty of ₹3.63 Crore had been levied under the Income Tax Act.
ACME Solar Holdings announced that its subsidiary's appeal regarding ₹7.82 Crore in disallowed customs duty and GST claims has been admitted by the Appellate Tribunal for Electricity. The appeal challenges a November 2025 order by the Rajasthan Electricity Regulatory Commission.
Tahmar Enterprises Limited filed an Intervention Application before the Bombay High Court to defend the Maharashtra Made Liquor framework. The company seeks impleadment in five writ petitions challenging the framework. This legal outcome could materially impact the operational status of the company's grain-based distillery in Kolhapur.
Vantage Knowledge Academy Ltd received an administrative warning letter from SEBI regarding clerical errors in its Annual Reports for FY 2022-23 to 2024-25. The company stated this has no material financial impact and corrective actions have been taken. The warning related to accounting policy disclosures and financial statement presentation inconsistencies.
Bombay Dyeing & Manufacturing Company Legal & Regulatory
Bombay Dyeing received an Income Tax Assessment Order for AY 2023-24, raising a tax demand of ₹0.02 Crore. While taxable income was enhanced by ₹574.35 Crore due to transfer pricing and expense adjustments, it was offset against available tax losses. The company is evaluating legal remedies.
5paisa Capital Limited received a tax demand order for ₹33.03 Crore from the Income Tax Authority on May 04, 2026. The demand is raised under Section 158BC(1)(c) of the Income Tax Act. The company plans to file an appeal and does not expect a material financial impact.
NLC India Limited reported that Stock Exchanges levied fines for non-compliance with Corporate Governance requirements regarding Board composition for the quarter ended December 31, 2025. The Board has advised communicating with the Ministry of Coal to appoint the requisite number of Independent Directors to ensure future compliance and avoid further penalties.
Digilogic Systems Ltd announced that the Regional Director has set aside prior adjudication orders from ROC, Hyderabad. This decision nullifies approximately ₹12.73 Crore in original penalties and absolves the company and its directors of all demands and liabilities. The matter is now fully resolved in the company's favor with no operational impact.
SEPC Limited received an Administrative Warning Letter from SEBI dated April 30, 2026. The warning relates to delayed disclosures of arbitration proceedings and a settlement agreement with Hindustan Copper Limited. The company stated it is committed to strengthening its compliance framework and ensuring timely disclosures in accordance with SEBI regulations.
Hubtown Limited received an NCLT order directing it to convene an equity shareholders' meeting to approve its proposed merger with 25 West Realty Private Limited. The meeting must be held within 60 days. This procedural step advances the internal group reorganization and merger process announced in June 2025.
Mphasis Ltd reported a ₹0.01 Crore fine imposed by NSE and BSE for non-compliance with board composition norms regarding independent directors. The company has submitted a waiver application to the exchanges. All other secretarial standards and SEBI regulations were found to be in compliance for FY2026.
Puravankara Ltd received favourable appellate orders for assessment years 2010-11, 2013-14, and 2014-15. The Commissioner of Income Tax (Appeals) allowed previously disallowed Section 80-IB deductions, resulting in a total tax liability reduction of ₹27.75 Crore plus interest.
Awfis Space Solutions Limited received final orders from the GST Department dropping tax demands totaling ₹2.97 Crore for FY 2019-20, 2023-24, and 2024-25. The adjudication concludes these proceedings with nil liability for the company. Similar proceedings for FY 2020-21 through 2022-23 remain pending with the concerned authorities.
Bihar Sponge Iron Limited received a ₹1.98 Crore demand notice under the Insolvency and Bankruptcy Code from M/s Gohil Enterprises Private Limited. The company is currently reviewing the matter and taking legal steps, clarifyng that it has not acknowledged or admitted the alleged unpaid operational debt liability.
Subex Limited received an Income Tax refund of ₹2.37 Crore (including ₹1.28 Crore interest) for Assessment Year 2008-09. The refund follows a rectified order issued to give effect to a High Court order. This receipt strengthens the company's cash position.
Hindustan Copper Limited disclosed updates on 12 pending litigations and disputes as of May 2024. The cases involve various forums including the Supreme Court and High Courts, with aggregate financial implications and claims estimated at approximately ₹1,269.18 Crore. Key disputes include arbitration awards, tax demands, and contractual disagreements with vendors and municipal bodies.
Embassy Developments Limited announced that the Hon'ble NCLAT has ruled in its favor, quashing the Corporate Insolvency Resolution Process (CIRP) initiated by the NCLT. The company is no longer subject to insolvency proceedings and remains financially sound. Business operations continue as normal without impact from the previously impugned order.
Vantage Knowledge Academy Ltd received an administrative warning letter from SEBI on April 30, 2026, concerning clerical errors in its Annual Report. The company stated the event has no material financial impact and corrective actions have been implemented. The warning will be reviewed by the board at their next meeting.
Meghmani Organics Limited announced a corrected schedule for NCLT-directed meetings of equity shareholders, secured creditors, and unsecured creditors on June 06, 2026. This correction addresses a typographical error in a previous intimation. Schedules for Kilburn Chemicals and Meghmani Crop Nutrition remain unchanged. Meetings will be held via video conferencing.
Arkade Developers Limited received an order imposing a Rs 1.15 Crore tax demand and Rs 0.11 Crore penalty (totaling ₹1.26 Crore) from GST authorities. The demand relates to disallowed Input Tax Credit for FY 2019-20 to FY 2021-22. The company states there is no material financial impact and is considering filing an appeal.
Valor Estate Limited announced that the Bombay High Court dismissed an appeal by the Salt Department, favoring its subsidiary Miraland Developers Pvt. Ltd. The ruling concludes over four decades of litigation concerning the title of approximately 205 acres of land in Bhayandar, Thane.
Meghmani Organics Limited received an NCLT order directing meetings on June 06, 2026, to approve the amalgamation of Kilburn Chemicals and Meghmani Crop Nutrition. The merger aims to consolidate group entities, with meetings for shareholders and creditors conducted via video conferencing.
Salasar Techno Engineering announced NCLT-convened meetings for shareholders and creditors on June 05, 2026. The meetings will consider the Scheme of Amalgamation with Hill View Infrabuild Limited. Remote e-voting is scheduled from June 01 to June 04, 2026, facilitating investor participation in the merger process.
Dalmia Bharat Limited's subsidiary, DCBL, received a favorable order from the Additional Commissioner of CGST (Appeals), Patna, waiving a ₹0.12 Crore penalty. The penalty was originally imposed for GST matters relating to FY 2017-18. Consequently, there will be no financial impact on the company.
JK Lakshmi Cement Limited received a GST demand order totalling ₹3.92 Crore (including tax, interest, and penalty) for FY 2023-24 due to disallowed Input Tax Credit. The Company plans to appeal the order before the Appellate Authority. Management states there is no material impact on the company's financial or operational activities.
Star Paper Mills Ltd received an ex-parte assessment order under UPVAT for FY 2015-16, demanding additional tax of ₹1.15 Crore. The company intends to file a review application to contest the order. Management states there is no material impact on finance or operations due to this demand.
Star Paper Mills received a Rs. 1.15 Crore UPVAT assessment order for FY 2015-16. The company plans to file a review application to contest the demand. Management stated there is no material impact on finance or operations due to this order.
PB Fintech's subsidiary, Paisabazaar, received a tax order confirming disallowances of ₹145.91 Crore for FY 2021-22 and FY 2022-23. The company plans to appeal the order. Additionally, the CIT(A) directed the Assessing Officer to verify and allow certain brought-forward loss set-offs, mitigating the immediate financial impact.
Delta Corp Limited announced that the Supreme Court of India stayed further proceedings regarding alleged short payment of tax notices. The stay remains effective until the final disposal of SLP(C) Nos. 19366-19369/2023. This legal update provides significant temporary relief regarding the company's tax-related litigation.
Orosil Smiths India Ltd is initiating legal proceedings against Shiprocket Limited before the District Consumer Disputes Redressal Commission in Delhi. The dispute involves claims for lost shipments, refund of shipping charges, and compensation for business loss. This action aims to recover dues and address operational grievances.
