Arrow Greentech Ltd has informed stock exchanges about receiving a penalty demand of Rs 1.80 crores from the Income Tax Department for assessment year 2017-18. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Penalty Details and Background

The Assessment unit of the Income Tax Department issued the demand letter under section 270(A) of the Income Tax Act, 1961. The penalty stems from the dismissal of the company's appeal under section 250 with Commissioner CIT (A) against disallowances of certain expenditure and deductions claimed under various provisions of the Income Tax Act.

Company's Response Strategy

Arrow Greentech has outlined its approach to address the penalty demand. The company stated there is no material impact on its financials, operations, or other activities due to the demand notice. Management plans to file an appeal against the penalty order within the stipulated period.

Legal Proceedings and Recovery Status

The company has already initiated legal measures to contest the underlying assessment. Arrow Greentech has filed an appeal with the Income Tax Appellate Tribunal (ITAT) against the order of CIT (A). Additionally, the company has submitted a letter to the Commissioner of Income Tax requesting to hold the recovery process until the outcome of the ITAT proceedings is determined.

Regulatory Compliance

The disclosure was made pursuant to Para A (20) of Part A of Schedule III to the SEBI LODR regulations. Arrow Greentech communicated the development to both BSE Ltd and National Stock Exchange of India Ltd on March 17, 2026, ensuring compliance with mandatory disclosure requirements for listed entities facing regulatory actions.

Arrow Greentech Limited has scheduled an analyst and investor meeting for March 10, 2026, as part of its regulatory compliance under SEBI guidelines. The company has formally notified both stock exchanges about this upcoming interaction with market participants.

Meeting Details

The company has provided specific details about the scheduled analyst and investor interaction:

Regulatory Compliance

Arrow Greentech Limited has informed this meeting schedule pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was sent to both BSE Limited and National Stock Exchange of India Limited on March 5, 2026.

The company has clarified that discussions during the meeting will be based on publicly available information. Arrow Greentech has also noted that changes may happen due to exigencies on the part of the host or company.

Company Information

The notification was signed by Poonam Bansal, Company Secretary with Membership No. F9965, on behalf of Arrow Greentech Limited. The company operates with CIN No. L21010MH1992PLC069281 and maintains its registered office at Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai, with manufacturing facilities in GIDC, Ankleshwar, Gujarat.