Century Enka Limited has informed stock exchanges about the resignation of Dr. Partheban Manoharan from his position as Head - CTS and Quality Assurance and Senior Management Personnel. The resignation was submitted on March 24, 2026, with the executive's tenure concluding at the end of business hours on July 7, 2026.

Resignation Details

The company has disclosed the resignation in compliance with Regulation 30 read with Para A(7) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dr. Manoharan cited personal reasons for his decision to step down from his role.

Regulatory Compliance

Century Enka Limited has fulfilled its disclosure obligations as required under SEBI regulations. The company provided detailed information in accordance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, ensuring transparency regarding changes in senior management personnel.

The notification was signed by Rahul Dubey, VP-Legal & Company Secretary (FCS 8145), confirming the company's adherence to regulatory requirements for disclosing senior management changes to both BSE Limited and The National Stock Exchange of India Ltd.

Century Enka Limited has received a penalty order from the Income Tax Department's National Faceless Assessment Centre for assessment year 2020-21. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Penalty Details and Assessment

The Income Tax Department has imposed a penalty of Rs 38,29,964 under section 270A of the Income Tax Act. This penalty amount represents 200% of the calculated tax of Rs 19,14,982 on underreported income, as specified under section 270A(10)(a) for assessment year 2020-21.

Nature of Violation

The penalty stems from a difference between the returned income filed by the company and the assessed income as determined by the Assessment Order passed under section 143(3) of the Income Tax Act. The National Faceless Assessment Centre identified this discrepancy during its assessment process for the relevant financial year.

Company's Response and Impact Assessment

Century Enka Limited has indicated that it plans to contest the demand raised by the tax authorities. The company has stated in its disclosure that it does not expect the penalty order to have any material financial impact on its operations. The demand notice was received by the company on February 25, 2026.

Regulatory Compliance

The disclosure was made in compliance with regulatory requirements, with the company informing both BSE Limited and the National Stock Exchange of India about the development. The communication was signed by Rahul Dubey, VP-Legal & Company Secretary of Century Enka Limited, ensuring proper corporate governance protocols were followed in the disclosure process.