Legal & Regulatory announcements

Nucleus Software Exports Legal & Regulatory

Nucleus Software Exports Ltd received an income tax demand of ₹0.28 Crore for Assessment Year 2023-24 from the Income Tax Department, Delhi. The demand relates to transfer pricing adjustments on intercompany transactions. The company plans to appeal the order and expects no material impact on its operations or financials.

Value

₹0.28 Cr

Reliable Data Services Legal & Regulatory

Reliable Data Services Limited received warning letters from NSE and BSE regarding a delay in disclosing the resignation of Mr. Ashwini Jha, Independent Director. The company acknowledged the oversight and committed to ensuring future compliance with SEBI Listing Regulations.

Mphasis Legal & Regulatory

Mphasis Limited received a penalty order of ₹0.19 Crore from the Karnataka GST authorities. The penalty relates to late reversal of input tax credits and SEZ endorsement issues. The company states there is no material impact on its financial or operational activities.

Value

₹0.19 Cr

Enviro Infra Engineers Legal & Regulatory

Enviro Infra Engineers Limited received a favorable arbitral award totaling approximately ₹8.65 Crore against HSIIDC. The award resolves long-standing disputes regarding dues from CETP projects in Faridabad and Rohtak. This successful conclusion of litigation initiated in 2022 includes principal sums, 16% interest, and recovered legal costs, strengthening the company's financial position.

Value

₹8.65 Cr

Arman Financial Services Legal & Regulatory

Arman Financial Services received a favorable Income Tax appeal order for Assessment Year 2012-13. The appellate authority deleted a ₹15 Crore addition originally treated as unexplained cash credits. This outcome provides significant relief with no material adverse financial impact on the company.

Value

₹15.00 Cr

Vishal Mega Mart Legal & Regulatory

Vishal Mega Mart's subsidiary, Airplaza Retail Holdings, received a ₹0.02 Crore penalty from the Additional District Magistrate, Rampur. The fine follows a 2025 food safety inspection regarding turmeric powder quality. The company intends to recover the amount from the third-party manufacturer and is evaluating next steps; no material operational impact is expected.

Value

₹0.20 Cr

Jana Small Finance Bank Legal & Regulatory

Jana Small Finance Bank Limited submitted its FY2026 Annual Secretarial Compliance Report. The report discloses a ₹0.002 Crore fine paid to NSE for a four-day delay in filing related party transaction disclosures for H1FY26. The bank also noted procedural record date observations for certain debenture interest payments.

Jasch Industries Legal & Regulatory

Jasch Industries Ltd reported that a ₹52,000 fine was imposed by stock exchanges due to a delay in filing the Annual Secretarial Compliance Report for FY 2024-25 in XBRL format. The company noted the report had been filed in PDF format within the deadline.

Value

₹0.01 Cr

SEPC Legal & Regulatory

SEPC Ltd received interim directions from the Madras High Court permitting a bank consortium to appropriate ₹15.69 crore and allowing the company to utilize ₹2 crore for salaries. The company states it is indemnified against these matters, resulting in no direct quantifiable financial impact.

Value

₹17.69 Cr

Elpro International Legal & Regulatory

Elpro International Ltd received a closure letter from the Central GST Department regarding previously initiated investigations. The closure followed a reversal of Input Tax Credit worth ₹0.14 Crore. The company stated there is no material impact on its financials or business operations.

Value

₹0.14 Cr

Indegene Legal & Regulatory

Indegene Ltd received a ₹43.69 Crore income tax demand notice for Assessment Year 2023-24. The demand arises from transfer pricing adjustments. The company is pursuing resolution through the Mutual Agreement Procedure (MAP) and domestic appellate remedies, and does not expect a material adverse impact on its financial position.

Value

₹43.69 Cr

Embassy Developments Legal & Regulatory

Embassy Developments Limited announced that the NCLAT has quashed the insolvency process (CIRP) against the company. Consequently, the company has exited the IBC classification and ASM framework. Normal trading in the company's equity shares will resume on the BSE and NSE with effect from May 6, 2026.

JSW Energy Legal & Regulatory

JSW Energy Ltd received a favourable Supreme Court order directing MSEDCL to make an interim payment of ₹250 Crore. The litigation relates to a tariff dispute at the Company's Ratnagiri unit. The Court also requested APTEL to re-hear MSEDCL's interim stay application, providing a significant cash flow update for investors.

Value

₹250.0 Cr

Grasim Industries Legal & Regulatory

The NCLAT set aside a ₹301.61 Crore penalty previously imposed on Grasim Industries by the Competition Commission of India regarding its VSF business. The matter has been remanded to the CCI for a fresh hearing. This ruling removes the immediate financial liability and behavioral directions previously imposed on the company.

Value

₹301.6 Cr

Alkem Laboratories Legal & Regulatory

Alkem Laboratories Limited received a favorable order dropping a GST demand of ₹69.66 Crore, including interest and penalties. The order from Mumbai GST authorities relates to alleged incorrect ITC/refund claims. The company stated there is no material impact on its financial or operational activities.

Value

₹69.66 Cr

Urban Company Legal & Regulatory

Urban Company Limited received a ₹8.70 Crore GST Show Cause Notice from Tamil Nadu tax authorities regarding FY 2022-23 returns. The notice alleges discrepancies in turnover and ITC claims. The company intends to contest the demand, asserting that taxes were correctly discharged and the demand incorrectly includes e-commerce operator turnover under Section 9(5).

Value

₹8.70 Cr

Bihar Sponge Iron Legal & Regulatory

Bihar Sponge Iron Ltd received a Demand Notice for ₹1.98 Crore from M/s Gohil Enterprises Private Limited under the IBC, 2016. The company clarifies it hasn't admitted the claim and is taking legal steps. This disclosure follows materiality requirements under SEBI Regulation 30.

Value

₹1.98 Cr

UCO Bank Legal & Regulatory

UCO Bank received an appellate order substantially allowing its appeal against a GST demand. The demand was reduced from ₹1,473.48 Crore to ₹4.86 Crore, plus interest and penalties. This reduction is a significant positive regulatory outcome for the bank regarding its historical tax liabilities.

Value

₹4.86 Cr

ICICI Bank Legal & Regulatory

ICICI Bank received an administrative warning from SEBI on May 4, 2026, regarding non-compliances in its depository participant activities. The Bank is taking corrective actions and states there is no material impact on its financial or operational activities. The observations originated from a periodic joint inspection by SEBI and depositories.

Jubilant Ingrevia Legal & Regulatory

Jubilant Ingrevia Limited received an appeal order confirming a GST demand and penalty totaling approximately ₹2.04 Crore for FY 2017-18. The order relates to alleged wrong availment of transitional credit. The company intends to appeal the decision before the GSTAT and states there is no material financial impact.

Value

₹20.37 Cr

Hindustan Oil Exploration Company Legal & Regulatory

Hindustan Oil Exploration Company received an administrative warning from SEBI on May 4, 2026. The warning relates to an 83-day delay in disclosing interim orders concerning a foreign arbitral award. The company confirmed there is no financial impact as no monetary penalty was imposed.

HCL Infosystems Legal & Regulatory

HCL Infosystems Ltd received a ₹26.35 Crore refund from the Rajasthan VAT Authorities. The refund pertains to a pre-deposit regarding the taxability of batteries sold in composite packs during 2009-10 and 2011-12. This recovery strengthens the company's cash position and resolves a decade-old tax matter.

Value

₹26.35 Cr

Zydus Lifesciences Legal & Regulatory

Zydus Lifesciences' subsidiary, Zydus VTEC Limited, received a GST demand and penalty order totaling ₹1.80 Crore for the period September 2020 to March 2023. The issue pertains to alleged inadmissible Input Tax Credit. The company intends to appeal the order and states there is no material financial impact.

Value

₹1.80 Cr

Veefin Solutions Legal & Regulatory

Veefin Solutions Ltd reported that arbitration proceedings have been initiated by certain shareholders of its step-down subsidiary, Epikindifi Software and Solutions. The dispute concerns a February 2025 shareholders' agreement. The matter is currently at a preliminary stage with no adverse orders passed, and management expects no material impact on business operations.

Rane Holdings Legal & Regulatory

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.

Value

₹3.63 Cr

ACME Solar Holdings Legal & Regulatory

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.

Value

₹7.82 Cr

Tahmar Enterprises Legal & Regulatory

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 Legal & Regulatory

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.

Value

₹0.02 Cr

5Paisa Capital Legal & Regulatory

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.

Value

₹33.03 Cr