Diligent Media Corporation Limited has informed the Exchange about Action(s) initiated or orders passed
DNAMEDIA · price
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On the reaction day the stock moved 2.4 pts less than Nifty Microcap 250 and 2.3 pts less than its Media peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Diligent Media Corporation has received a fresh order from the Deputy Commissioner of Income Tax, Mumbai dated July 14, 2025, related to an ongoing tax dispute for Assessment Year 2013-14. The original demand of approximately Rs. 41.34 crore arose from the Income Tax Authority's view that Long-Term Capital Gains were wrongly excluded while computing Minimum Alternate Tax (MAT). The new order directs the company to deposit 20% of the demand (around Rs. 8.27 crore), failing which coercive recovery measures may be initiated. The company is already contesting the original demand before the Commissioner of Income Tax (Appeals) and now plans to file a fresh application seeking a stay on the payment demand and an early hearing.
An immediate cash outflow of about Rs. 8.27 crore may be required unless the company secures a stay, which could pressure short-term liquidity. The final liability remains contingent on the appeal outcome, keeping the dispute an overhang on the stock until resolved.