Maithan Alloys Limited has informed the Exchange about Action(s) initiated or orders passed by Income Tax Department.
MAITHANALL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Maithan Alloys has disclosed that the Income Tax Department issued a demand notice of Rs. 2,88,02,270 (around Rs. 2.88 crore) under Section 156 of the Income-Tax Act, 1961, alleging short payment of income tax for Assessment Year 2024-25. The notice was received via email on March 9, 2026, and the company became aware of it the next day, filing this disclosure on March 12, 2026 with a small delay which it described as inadvertent. The company is planning to file a rectification request under Section 154 of the Income-Tax Act to contest the demand. The filing was made to both NSE and BSE under SEBI Listing Regulations.
The demand of ~Rs. 2.88 crore is a relatively modest amount and the company is contesting it through a rectification request, so the immediate financial hit is limited. However, the news is mildly negative for sentiment as it flags a tax dispute, and any adverse outcome could affect future earnings.