DIC India Limited has received directions from the Dispute Resolution Panel-2 (DRP), New Delhi, concerning transfer pricing adjustments for the financial year 2022-23. The panel did not accept most of the company's objections and directed the Assessing Officer to incorporate its findings into the final order.

The directions were issued under Section 144C(5) of the Income-tax Act, 1961, following objections filed by DIC India against a draft assessment order. This draft order had proposed an upward transfer pricing adjustment of ₹3,84,17,653 for Assessment Year 2023-24 related to international transactions.

Regulatory Context and Timeline

The company disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The DRP issued the directions on September 30, 2026, which were received by Key Managerial Personnel on October 1, 2026. This follows an earlier disclosure filed by DIC India on March 3, 2026, regarding the initial draft assessment order passed by the Assessing Officer.

Financial Impact and Next Steps

The company stated that no financial or operational impact is quantifiable at this stage because the final assessment order from the Assessing Officer, based on the DRP's directions, is yet to be received. DIC India indicated it will evaluate the final order upon receipt and take appropriate action thereafter.

What the Numbers Show

The core financial exposure remains tied to the proposed upward adjustment of ₹3,84,17,653 for international transactions in FY23. Since the DRP rejected most objections, the likelihood of this adjustment being incorporated into the final tax liability increases, though the exact cash outflow depends on the final order's specific calculations and any applicable interest or penalties not yet detailed.

DIC India Limited concluded the remote e-voting period for its postal ballot on September 30, 2026. The process sought shareholder approval for the appointment of Hayato Kashiwagi as Managing Director and Praveen Kumar Asthana as Whole Time Director.

The voting window opened on September 1, 2026, at 9:00 am and closed at 5:00 pm on September 30, 2026. The company utilized the electronic voting facility provided by National Securities Depository Limited (NSDL) to facilitate member participation.

Postal Ballot Resolutions

The postal ballot covered two key leadership appointments. The first resolution proposed the appointment of Hayato Kashiwagi (DIN: 10953592) as Managing Director. This appointment remains subject to the requisite approval of the Central Government.

The second resolution sought approval for the appointment of Praveen Kumar Asthana (DIN: 06830096) as Whole Time Director of the company. Both resolutions were voted upon exclusively through electronic means in compliance with regulatory guidelines.

Compliance and Scrutiny Details

Karan Arora & Associates, acting through proprietor Mr. Karan Arora, served as the scrutinizer for the postal ballot. The firm was appointed by the Board of Directors to ensure a fair and transparent conduct of the electronic voting process.

In line with Ministry of Corporate Affairs circulars and SEBI Listing Regulations, the notice was dispatched solely via electronic mode. Physical copies of the notice and ballot forms were not sent to members. This digital-first approach applied to shareholders whose email addresses were registered with the company, registrar, or depository participants.

Next Steps

The company will disclose the voting results along with the scrutinizer's report within the prescribed timeline. These details will be made available on the company website in accordance with Regulation 44(3) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.