Apcotex Industries Limited has received an Income Tax order imposing a penalty of Rs. 1,01,90,510/- from the National Faceless Appeal Centre (NFAC) for Financial Year 2016-17. The company disclosed this development under Regulation 30 of the SEBI Listing Regulations on March 13, 2026.

Income Tax Order Details

The order was passed under Section 250 of the Income Tax Act, 1961, against the assessment order under Section 147 read with Section 143(3) for Assessment Year 2017-18. The penalty relates to additions made on account of certain transactions entered during the Financial Year 2016-17.

Nature of Alleged Violation

The Income Tax Department has alleged non-reporting of certain transactions entered during FY 2016-17 by the erstwhile Apcotex Solutions India Private Limited. This entity was subsequently merged into Apcotex Industries Limited, making the current company liable for the penalty.

The order stems from an assessment under Section 147 read with Section 143(3) of the Income Tax Act, which deals with income escaping assessment and regular assessment procedures respectively.

Company's Response and Impact Assessment

Apcotex Industries stated that it is currently evaluating the order and will decide on its further course of action based on legal counsel's advice. The company has indicated that it does not expect the order to have any material financial impact on its operations.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with sub-para 20, Para A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to disclose material events including tax orders, penalties, and fines imposed by regulatory authorities.

The company has fulfilled its disclosure obligations by informing both the National Stock Exchange of India Limited and BSE Limited about the Income Tax order within the prescribed timeframe.

Apcotex industries Limited has announced an inter-se transfer of shares among its promoters, as disclosed in a regulatory filing dated March 11, 2026. The transaction involves the transfer of 62,280 shares without any monetary consideration between promoter entities.

Transaction Details

The share transfer involves Rita Ashok Parekh acquiring 62,280 shares from Mrs. Rita Ashok Parekh & Mrs. Janaki Parekh, both promoters of the company. The proposed acquisition date is scheduled for March 18, 2026.

Shareholding Impact

The transaction will result in changes to the promoter shareholding pattern. Rita Ashok Parekh's stake will increase from her current holding, while the selling promoters will reduce their positions to zero.

Regulatory Compliance

The transaction is being conducted under regulation 10(1)(a)(i) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which exempts the acquirer from making an open offer. The company has declared compliance with all applicable disclosure requirements under Chapter V of the Takeover Regulations.

Market Reference Price

The volume weighted average market price for 60 trading days preceding the notice date was ₹364.16 on NSE, where maximum trading volume was recorded. The acquirer has declared that the acquisition price will not exceed 25% above this reference price, though the current transaction involves no monetary consideration.

Corporate Governance

The disclosure demonstrates the company's commitment to transparency and regulatory compliance. All required declarations regarding compliance with SEBI takeover regulations have been made by the acquirer, ensuring adherence to corporate governance standards for inter-se transfers among promoters.