Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) - Update on material litigations (Income Tax related matters) – 21st January 2026
Further to its letter no. PKR:SG: 56:23 dated 14th August 2023 and subsequent submissions of quarterly ‘Integrated Filing – Governance’ regarding disclosure of continuing event or information (i.e. ongoing litigations) of the Company and its relevant developments pursuant to Regulation 30 and Part B of Para A of Schedule III of the Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024, the Company has submitted to the NSE and BSE development in one of the ongoing litigations with regard to Disallowance(s) of General Licensing fees from the financial years 1996 – 1998, 1999 – 2001 and 2004 – 2008 as below:
The Income Tax authority vide various Orders have contended that payments of General Licensing fees during the aforesaid financial years were excessive and unreasonable. The Company had appealed against the Orders. The matter has been decided in favour of the Company up to the level of Hon’ble Delhi High Court. The Income Tax authority preferred appeals against the Orders of the Hon’ble Delhi High Court before the Hon’ble Supreme Court of India.
By Order dated 13th January 2026 (received by the Company on 21st January 2026), the appeals filed by the Income Tax authority for the above years have been dismissed as withdrawn, by the Hon’ble Supreme Court of India.
Quantum of claim(s), if any : The aggregate amount involved under the above litigations was Rs. 101.21 Crore.
