Bharat Seats Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, demonstrating adherence to SEBI regulatory requirements for share dematerialization processes.

Regulatory Compliance Filing

The company submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 to both BSE Limited and National Stock Exchange of India Limited on April 13, 2026. Company Secretary and Compliance Officer Ritu Bakshi signed the submission, ensuring proper regulatory compliance.

Certificate Details

Alankit Assignments Ltd., serving as the company's Registrar and Share Transfer Agent, issued the compliance certificate on April 1, 2026. The certificate covers the quarter ended March 31, 2026, addressing physical share certificates received for dematerialization of the company's equity shares.

Compliance Confirmations

The registrar confirmed two critical compliance aspects for the quarter:

• Securities comprised in the certificates have been listed on stock exchanges
• Physical certificates were properly verified, mutilated, cancelled, and the depository name was substituted as the registered owner in company records

Corporate Information

Bharat Seats Limited operates from Plot No.1, Maruti Udyog Joint Venture Complex, Gurugram, with its registered office located at 1, Nelson Mandela Road, Vasant Kunj, New Delhi. The company maintains its stock exchange presence through scrip code 523229 on BSE and BHARATSE on NSE.

This quarterly compliance filing represents standard regulatory practice, ensuring transparency in share transfer and dematerialization processes as mandated by SEBI regulations.

Bharat Seats Limited has received favorable appellate orders from the Income Tax Department, providing significant relief on outstanding tax demands for multiple assessment years. The company informed stock exchanges about this development under Regulation 30 of SEBI listing regulations on April 1, 2026.

Tax Appeal Outcomes

The Income Tax Department's Office of the Commissioner of Income Tax (Appeals) in New Delhi issued appellate orders under section 250 of the Income Tax Act 1961. These orders cover assessment years 2014-15, 2015-16, 2016-17, and 2017-18, with the orders dated March 30, 2026, and received by the company on March 31, 2026.

Financial Impact

The appellate orders have resulted in substantial financial relief for Bharat Seats Limited. According to the company's disclosure, the outstanding tax demand for assessment years 2014-15 to 2017-18 will be reduced from Rs. 7.86 crores to nil following these favorable orders.

Outstanding Matters

While the company has received relief for the earlier assessment years, challenges remain for subsequent periods. The appeals against the balance demand of Rs. 14.57 crores covering assessment years 2018-19 to 2024-25 are still pending before the Commissioner of Income Tax (Appeals).

The company had previously communicated about these tax matters through intimations dated June 28, 2024, and April 1, 2025, indicating the total outstanding demand across all assessment years from 2014-15 to 2024-25 was Rs. 22.43 crores.

Regulatory Compliance

Bharat Seats Limited fulfilled its disclosure obligations by informing both BSE Limited and National Stock Exchange of India Limited about the appellate orders. The communication was signed by Company Secretary and Compliance Officer Ritu Bakshi, ensuring proper regulatory compliance under the listing regulations.