Diligent Media Corporation Limited has filed its quarterly compliance certificate with stock exchanges for the quarter ended March 31, 2026, fulfilling regulatory obligations under SEBI's depository regulations.

Regulatory Compliance Filing

The company submitted a certificate under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 to both NSE and BSE on April 9, 2026. Company Secretary and Compliance Officer Jyoti Upadhyay signed the submission letter, ensuring compliance with statutory requirements.

Certificate Details

Registrar Confirmation

MUFG Intime India Private Limited, formerly Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The registrar confirmed that securities received from depository participants for dematerialization during Q4FY26 were properly processed and confirmed to depositories within prescribed timelines.

Compliance Assurance

The certificate confirms that security certificates received for dematerialization were mutilated and cancelled after due verification by depository participants. The registrar also verified that depositories' names were substituted in the register of members as registered owners, maintaining proper record-keeping standards.

Stakeholder Communication

Copies of the compliance certificate were sent to National Securities Depository Limited and Central Depository Services (India) Limited, ensuring all relevant depositories received confirmation of regulatory compliance. This systematic approach demonstrates the company's commitment to transparent regulatory reporting and stakeholder communication.

Diligent Media Corporation Limited has informed stock exchanges about receiving a significant GST demand order from tax authorities in Mumbai. The company disclosed this development under regulatory compliance requirements on March 31, 2026.

GST Demand Details

The Assistant Commissioner of State Tax, Mumbai has issued a demand order directing the company to remit approximately Rs 3.99 crores. This amount covers tax, interest, and penalty under the Central Goods and Services Tax Act, 2017 for the financial year 2019-20.

Nature of Dispute

The GST demand stems from the transfer of leasehold rights involving an industrial plot situated in Mumbai. The tax authorities have taken the position that the company failed to levy GST on the assignment of leasehold rights when the property was sold to M/s CTRL S (India) Pvt. Ltd.

The GST department has classified this transaction as a taxable supply of services under GST laws, leading to the demand for tax payment along with applicable interest and penalties.

Company's Legal Strategy

Diligent Media Corporation has indicated its intention to challenge this order through legal proceedings. The company plans to file a writ petition before the Hon'ble High Court of Bombay shortly.

This approach follows a similar strategy adopted for an earlier GST order of comparable nature. The company had previously filed a writ petition regarding the sale of another part of the same leasehold land to the same buyer, M/s CTRL S (India) Pvt. Ltd.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Company Secretary and Compliance Officer Jyoti Upadhyay signed the regulatory filing, ensuring transparency with stakeholders regarding this material development.

The company has provided detailed information about the litigation as required under applicable SEBI regulations and industry standards, maintaining compliance with disclosure norms for listed entities.