Mawana Sugars Limited has informed the Exchange that the Company has received a demand notice from Nagar Palika Parishad, Mawana, regarding the differential payment of house tax and water tax for the financial years 2018-19 to 2024-25.
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Mawana Sugars has received a demand notice from the local municipal body, Nagar Palika Parishad Mawana, asking for differential payment of house tax and water tax covering seven financial years from 2018-19 to 2024-25. The notice pertains to the company's premises in Mawana. The company has informed the stock exchange about this development. The exact amount of the demand has not been disclosed in the filing. The company may need to pay additional property-related taxes retroactively.
This is a routine local tax compliance matter and is unlikely to have a material impact on the company's financials or stock price, unless the demanded amount turns out to be significantly large. Investors should watch for further disclosures on the quantum of the demand and any legal action the company may take.