Diligent Media Corporation Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

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Price reactionminutes from the announcement price · days from the prior close

+2.7%Reaction day

₹3.39

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+2.4% vs market

Media peers, median of 18sector · industry level-0.2%+2.8% vs sector

On the reaction day the stock moved 2.4 pts more than Nifty Microcap 250 and 2.8 pts more 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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AI summary

Diligent Media Corporation has filed a writ petition before the Bombay High Court on February 24, 2026, challenging a GST Demand Order received from the Office of the Assistant Commissioner of State Tax, Mumbai. The demand order, issued in Form GST DRC-07, alleged non-payment of GST on the assignment of leasehold rights of an industrial plot in Mumbai sold by the company, with a total demand of Rs. 33.90 crores along with applicable interest and penalty. The company is challenging the order based on judicial precedents from the High Court in similar matters and on the advice of its counsels. The petition is a follow-up to its earlier intimation dated January 14, 2026 regarding receipt of the demand order.

Likely market impact

The Rs. 33.90 crore demand, if upheld, could be a significant financial burden for the company. However, the proactive legal challenge citing favorable precedents provides a reasonable chance of relief. Shareholders should monitor the case outcome as an adverse ruling could materially impact the company's financials.