Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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On the reaction day the stock moved 4.3 pts less than Nifty Microcap 250 and 2.7 pts less than its Media & Entertainment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Music Broadcast Limited had received a GST demand order of Rs. 89,63,361 (about Rs. 89.6 lakhs) for FY 2021-22 from the Deputy Commissioner's office in Lucknow. The company filed a rectification application against this order. On March 19, 2026, the authority issued a Rectification Order that reduced the entire demand, including penalty, to Rs. 0. The company had initially informed exchanges about the original demand in December 2025 and is now sharing the favorable resolution.
Positive for shareholders — the full tax demand of ~Rs. 89.6 lakhs has been set aside to zero, removing a potential financial liability and uncertainty for the company.