Order received by Rane Steering Systems Private Limited, wholly owned material subsidiary of the Company

Rane Holdings disclosed that its wholly owned subsidiary Rane Steering Systems Private Limited (RSSL) received a stay order from the Hon'ble High Court of Madras. The stay order has set aside an earlier order passed by the Assessment Unit of Income Tax Department. The case has been remitted back to the Assessment Unit to pass a fresh order after considering a Denovo order from the Commissioner of Income Tax (Appeals). This relates to Assessment Year 2015-16. The company states expected financial implications are Nil. RSSL had earlier received a penalty order of Rs 3.63 Crores under Section 271(1)(c) of Income Tax Act on March 11, 2026, but the Income Tax Appellate Tribunal had remanded the matter back to the Commissioner on March 04, 2026.