Nesco Limited has informed the Exchange about Action(s) taken or orders passed
NESCO · price
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Nesco Limited received notices from the Brihanmumbai Municipal Corporation (BMC) on 25 July 2025 under Sections 162(2) and 216(B) of the Mumbai Municipal Corporation Act, 1888, relating to assessment tax on its Goregaon (East) properties covering FY 2015-16 to FY 2025-26. The notices include a penalty demand of approximately Rs. 2.59 crore (Rs. 2,58,99,183), arising from retrospective changes in area, capital value, and use classification. The company has denied the demand, stating it is incorrect, and is seeking further details and clarification from BMC authorities. Disclosure to the stock exchanges was delayed beyond the prescribed timeline because the company was awaiting confirmation on whether the amount was a fee or penalty.
Nesco states the notice has no material impact on its financials, operations, or other activities, but the matter remains open as the company contests the demand. Shareholders should monitor developments, as an adverse resolution could lead to additional financial outflow, though the amount is relatively small relative to typical corporate operations.