Max India Limited has informed the Exchange about Action(s) initiated or orders passed
MAXIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.9 pts less than Nifty Microcap 250 and 2.6 pts less than its Holding Company peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Max India Limited's step-down wholly owned subsidiary, Antara Purukul Senior Living Limited, has received an income tax assessment order under Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2024-25. The order raises a tax demand of Rs. 31.53 Crore from the Income Tax Department's assessment unit. The subsidiary has stated that there are mistakes apparent from the record in the assessment. It plans to first file a rectification petition and then appeal against the additions before the relevant appellate authority. The demand is at the subsidiary level, not directly on the listed parent company.
This is a tax demand that the company intends to contest, so there is no immediate financial hit. If the appeal fails, the subsidiary could face a cash outflow of Rs. 31.53 Crore. Shareholders should watch for updates on the appeal outcome, as a loss could marginally affect consolidated earnings, though the parent has not committed to any payment yet.