Aksh optifibre Limited has secured a major legal victory as the Debt Recovery Tribunal (DRT) Jaipur has set aside the SARFAESI notices issued by Union Bank of India. The company disclosed this significant development to the stock exchanges under Regulation 30 of the SEBI listing regulations on March 27, 2026.

DRT Order Details

The Hon'ble DRT Jaipur passed a comprehensive order on March 24, 2026, which the company received on March 26, 2026. The tribunal's decision addressed the securitisation proceedings that had been initiated by Union Bank of India under the SARFAESI Act, 2002.

SARFAESI Notices Set Aside

The tribunal's order specifically set aside two critical notices that had been issued by Union Bank of India against the company:

• Demand Notice under Section 13(2) of the SARFAESI Act, 2002
• Possession Notice under Section 13(4) of the SARFAESI Act, 2002

These notices are typically issued by banks when initiating recovery proceedings against borrowers under the securitisation framework.

Legal Proceedings Background

The company had proactively filed a Securitisation Application before the DRT Jaipur in response to the bank's actions. During the proceedings, the tribunal had initially granted an interim stay, providing temporary relief to the company while the matter was under consideration.

Impact of the Order

The DRT's decision has effectively quashed the entire securitisation action initiated by Union Bank of India against AKSH Optifibre. This outcome represents a complete resolution in favor of the company, nullifying the bank's recovery proceedings under the SARFAESI framework.

The company has informed both NSE and BSE about this development, ensuring full compliance with disclosure requirements under the listing regulations. This legal victory provides significant relief to AKSH Optifibre from the recovery proceedings that had been initiated by the bank.

Aksh optifibre LIMITED has announced a significant development regarding its tax proceedings, with the Deputy Commissioner, Rajasthan State Tax, Jaipur issuing a rectification order that substantially reduces the company's tax liability. This development follows the company's earlier disclosure made on December 30, 2025, under SEBI listing regulations.

Major Reduction in Tax Demand

The rectification order dated March 25, 2026, has brought substantial relief to the company by dramatically reducing the original tax demand. The revision represents one of the most significant reductions in recent corporate tax proceedings.

Regulatory Background

The original demand was raised under multiple sections of tax legislation, demonstrating the comprehensive nature of the assessment. The demand was issued under the following legal provisions:

• Sections 73, 50 and 73(9) of the Rajasthan Goods and Services Tax Act, 2017
• Central Goods and Services Tax Act, 2017
• Section 20 of the Integrated Goods and Services Tax Act, 2017
• Rules made under the aforementioned acts

The rectification order was issued by the Office of the Deputy Commissioner-B, Business Audit, Wing – VI, State Tax, Rajasthan, Jaipur, indicating the involvement of specialized audit wings in the assessment process.

Company's Response and Future Actions

Despite the substantial reduction in the tax demand, AKSH OPTIFIBRE LIMITED has indicated its intention to challenge the remaining liability. The company is currently in the process of filing an appeal against the balance demand of ₹94,22,212.

The management has assessed the potential impact of this development on the company's operations and has concluded that no material adverse effects are anticipated at this stage. This assessment covers the company's financial position, operational activities, and other business functions.

Compliance and Disclosure

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement also complies with requirements under SEBI Master Circular no. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring complete transparency with stakeholders and regulatory authorities.