Orient Green Power Company Limited has informed the Exchange regarding 'Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 ("LODR Regulations").'.
GREENPOWER · price
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Awaiting price reaction for this filing.
Orient Green Power Company has disclosed that its material subsidiary, Bharath Wind Farm Limited (BWFL), received a notice from the Income Tax Department's National Faceless Appeal Centre (NFAC) in Delhi on July 11, 2025. The notice disallows depreciation of Rs. 4.37 crore claimed for Assessment Year 2015-16, leading to an income tax demand of Rs. 4.35 crore (including Rs. 2.62 crore in interest). The dispute arises from BWFL using the useful life of assets as per the Companies Act 2013 instead of the erstwhile Companies Act. The subsidiary plans to file an appeal challenging the order based on merits and professional advice.
The Rs. 4.35 crore tax demand is on the material subsidiary, not the listed entity directly, but any adverse outcome could indirectly affect the parent company's consolidated financials. The stock may see limited negative reaction as the company is contesting the demand, though the dispute adds to regulatory overhang for shareholders.