Disclosure of Communication under Regulation 30(13) of SEBI (LODR) from Income Tax Department.
VIDYAWIRES · price
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Vidya Wires Ltd's wholly owned subsidiary, ALCU Industries Private Limited, received an Assessment Order from the Office of Deputy Commissioner of Income Tax, Central Circle-3, Vadodara. The order was issued under Section 158B(c)(1) read with Section 143(3) of the Income Tax Act, 1961, covering the block period from April 1, 2018 to March 31, 2025. The IT Department has raised a tax demand of ₹1,75,77,666 due to certain additions and disallowance of expenditures under various sections of the IT Act. The company received this order on May 28, 2026, and states it intends to file an appeal against the order.
The company has stated it does not expect any material impact on its financials, operations or other activities. However, the tax demand of approximately ₹17.58 crore on its subsidiary and the appeal process may attract investor attention, though no immediate penalty or sanction has been imposed.