Announcement under Regulation 30 of SEBI Listing Regulations
BHARATFORG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Bharat Forge Ltd received an order from the Commissioner of Income-tax (Appeals) under Section 250 of the Income Tax Act, 1961, dated May 11, 2026. The order relates to a reduced penalty of Rs. 85,29,661 for under-reporting of income under Section 270A for the financial year 2016-17. The company received this order on May 12, 2026. The order is appealable, and Bharat Forge is in the process of filing an appeal before the Income Tax Appellate Tribunal (ITAT), Pune. The company has clarified that there is no material impact on its financials, operations, or other activities.
The penalty amount of approximately Rs. 85.3 lakh is relatively small for a company of Bharat Forge's size, and the company is appealing the order, indicating it contests the finding. The disclosure is routine compliance and is unlikely to materially affect the stock price.