Clarification letter in reference to Corporate Announcement dated 14/05/2025 regarding receipt of Demand notice from Income Tax Department by Astron paper & Board Mill Limited.
ASTRON · price
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Astron Paper & Board Mill Limited has issued a clarification to stock exchanges about why it delayed reporting a demand notice it received from the Income Tax Department. The original announcement was filed on 14/05/2025, but the company says the notice was actually received earlier. According to the management, the dedicated compliance email (ca@astronpaper.com) was inaccessible due to a server issue until 5th May 2025. The Tax Auditor later flagged the notice on the Income Tax portal, and the Company Secretary was on leave from 2nd May to 13th May 2025, which further delayed the disclosure. The company is requesting the exchanges to condone the delay in reporting.
Investors should note that the company has an outstanding Income Tax demand notice, though the exact amount has not been disclosed in this clarification. The delayed disclosure, even with reasonable explanations, may raise governance concerns and could attract queries from exchanges regarding internal controls and compliance processes.