H.G. Infra Engineering Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
HGINFRA · price
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The Income Tax Department has issued a demand notice to H.G. Infra Engineering Limited on January 6, 2026, under Section 154 of the Income Tax Act, 1961, for Assessment Year 2018-19. The total demand, including interest, is Rs. 1,54,55,29,151 (approximately Rs. 154.55 crores). This is a follow-up to an earlier Assessment Order passed under Section 143(3) of the Income Tax Act. The company states there is no immediate impact on its financial or operational activities, has already filed an appeal against the original assessment order, and plans to file an appeal against this demand notice before the Appellate Authorities. The company, based on legal advice, reasonably expects a favorable outcome and describes the order as contrary to principles of natural justice.
Although the demand of about Rs. 154.55 crores is sizeable, the company is contesting it and expects a favorable appellate outcome, so there is no immediate financial hit. Shareholders should treat this as a contingent liability and watch for updates on the appeal, as an adverse ruling could materially affect earnings and cash flows.