This is to inform you that the company had received a order from the office of the deputy commissioner of Income Tax, Circle 2(1)(1), Vadodara. Details are attached herewith.
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Panasonic Energy India has received an assessment order from the Income Tax department's office in Vadodara demanding a total of Rs. 3,59,953. This includes Rs. 1,44,270 in tax, a penalty of Rs. 1,44,270 under section 271C, and interest of Rs. 71,413 under section 201(1A). The demand relates to delayed deduction of TDS under section 194J of the Income Tax Act. The company received the order on December 18, 2025, and has indicated it may take further action, likely meaning it plans to contest or appeal. The company has clarified there is no impact on its business operations from this order.
The financial impact is small — about Rs. 3.6 lakh — and limited to the demand amount, so it is unlikely to affect the stock price or operations materially. Shareholders should note the company may appeal the order to reduce or nullify the demand.