Sejal Glass Limited has informed the Exchange about General Updates
SEJALLTD · price
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On the reaction day the stock moved 3.8 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Sejal Glass had received income tax demands of Rs. 40.62 crores from the TDS Ward for periods before the NCLT approved its Resolution Plan on March 26, 2021. The company challenged these demands by filing appeals with the NCLT Mumbai bench. On April 28, 2025, the NCLT ruled in the company's favour, directing the Income Tax authorities to withdraw all notices and proceedings for any dues (past or future) relating to the period before the Resolution Plan approval. This effectively relieves the company from a significant pre-resolution tax liability that it was not obligated to pay under the approved plan.
Positive for shareholders — the company has won relief from a Rs. 40.62 crore tax demand tied to its pre-insolvency period, removing a major overhang. This reinforces the protection granted under the approved Resolution Plan and reduces contingent liability risk.