Bharat Seats received four penalty orders totaling Rs 271.48 lakhs from the Income Tax Department, Office of the Deputy Commissioner of Income Tax, Central Circle 19, Delhi, on June 24, 2026. The orders were issued under section 271 DA read with section 269ST of the Income Tax Act, 1961, covering assessment years 2019-20, 2020-21, 2021-22, and 2024-25. The company disclosed this information in a regulatory filing submitted to the exchanges on June 25, 2026.

Penalty Breakdown

The penalties are distributed across the specified assessment years, with the highest charge levied for A.Y. 2021-22. The total demand of Rs 271.48 lakhs is broken down as follows:

Company Response and Impact

Bharat Seats has confirmed that it will be filing appeals against the orders for all the mentioned assessment years. Management stated that based on its own assessment and legal advice received, it is confident of a favorable outcome in these appeals. Consequently, the company has stated that no impact is envisaged on its financials, operations, or other activities as a result of these orders. The disclosure was made within 24 hours of receiving the orders.

Maruti Suzuki India Limited has submitted a disclosure to the stock exchanges regarding its shareholding in Bharat Seats Limited for the financial year ended March 31, 2026. The filing was made in accordance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The disclosure provides details on the promoter's shareholding and any encumbrances created, invoked, or released during the reporting period.

The document confirms that Maruti Suzuki India Limited acts as a promoter in Bharat Seats Limited. As of the reporting date, the company holds a significant portion of the target company's equity. The disclosure was formally addressed to the General Manager of BSE Limited and the Vice President of the National Stock Exchange of India Limited to ensure the information is placed on record.

Shareholding and Encumbrance Details

The disclosure outlines the specific shareholding figures and the status of encumbrances. The data indicates that Maruti Suzuki India Limited holds a total of 93,00,000 shares in the target company. This represents 14.81% of the total share capital and 14.81% with respect to the diluted share capital of Bharat Seats Limited.

Status of Encumbrance

According to the filing, there were no encumbrances reported on the shares held by Maruti Suzuki India Limited in Bharat Seats Limited during the specified period. The details regarding the creation, invocation, or release of any pledge, lien, or non-disposal undertaking were marked as not applicable (NA). Consequently, the post-event holding of encumbered shares remains consistent with the total shares held, as no new encumbrances were recorded.