Bansal Wire Industries announced that the Hon'ble High Court of Delhi has quashed income tax demand notices issued against its wholly-owned subsidiary, Bansal Steel & Power Limited. The order, received on April 30, 2026, follows a civil writ petition filed by the subsidiary and was disclosed to the stock exchanges on May 01, 2026 under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Court Order Details

The court applied the "clean slate theory" to set aside all impugned demand notices pertaining to pre-Resolution Plan claims. The petition stands allowed and all demand notices have been set aside. The quashed demands were:

Background and Impact

The income tax demands were levied for periods prior to the approval of the resolution plan, as mentioned in the Draft Red Herring Prospectus, Red Herring Prospectus, and Prospectus filed during the company's Initial Public Offering. The subsidiary, formerly known as Garg Inox Limited, had challenged these demands through the writ petition.

The company stated that the order reaffirms its strong compliance framework and confirmed that there is no financial impact resulting from this development. The information has been made available on the company's website at www.bansalwire.com for stakeholder reference. Sumit Gupta, Company Secretary & Compliance Officer, signed the disclosure on May 01, 2026.

Bansal wire industries Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, fulfilling regulatory requirements under SEBI guidelines.

Regulatory Compliance Filing

The steel wire manufacturer submitted the mandatory 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 07, 2026. Company Secretary and Compliance Officer Sumit Gupta signed the submission on behalf of the company.

Certificate Details

KFin Technologies Limited, serving as the company's Registrar and Transfer Agent, issued the compliance certificate dated April 02, 2026. The certificate confirms that during the quarter from January 01, 2026 to March 31, 2026, no requests for dematerialization or rematerialization of shares were received.

Vice President Dnyanesh Gharote signed the certificate on behalf of KFin Technologies Limited, which operates from its center in Hyderabad's Financial District and maintains its registered office in Mumbai.

Stock Exchange Communication

The filing was addressed to both major Indian stock exchanges where Bansal Wire Industries shares are listed. The company trades on BSE with scrip code 544209 and on NSE under the trading symbol BANSALWIRE.

This quarterly compliance certificate represents part of the regular regulatory reporting obligations for listed companies, ensuring transparency in share transfer and dematerialization processes as mandated by SEBI regulations.