Eveready Industries India has disclosed a court order passed by the Hon'ble Patiala House Courts, New Delhi, directing the company to pay damages estimated at approximately Rs. 7.11 crores (excluding interest) to UCO Bank. The order, dated May 15, 2026, pertains to proceedings concerning the alleged unauthorized occupation of a commercial space in New Delhi. The company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 18, 2026.

Court Order Details

The proceedings relate to the alleged unauthorized occupation of a portion measuring 5,471 sq. feet at UCO Bank Building, Parliament Street, New Delhi – 110001. A copy of the order was downloaded from the court's official website on May 17, 2026. The key details of the court order are summarized below:

Company's Legal Response

Eveready Industries has stated that it is taking appropriate legal steps to challenge the order before the Delhi High Court by way of a writ petition. The company also intends to seek interim relief in the matter. The company has further clarified that the damages amount of Rs. 7.11 crores does not have any material impact on its operations.

Regulatory Disclosure

The intimation was submitted to the National Stock Exchange of India Ltd, BSE Limited, and The Calcutta Stock Exchange Limited in compliance with Regulation 30 of the SEBI Listing Regulations. The disclosure was signed by Shampa Ghosh Ray, Company Secretary of Eveready Industries India Limited, and was filed from the company's registered office at 2, Rainey Park, Kolkata – 700 019.

Eveready Industries India Limited has recommended a dividend of ₹2.50 per equity share of face value ₹5.00 each for the financial year ended March 31, 2026. The Board of Directors approved this recommendation at its meeting held on April 30, 2026, and the dividend remains subject to shareholder approval at the company's ensuing 91st Annual General Meeting (AGM). On May 12, 2026, the company formally communicated TDS-related intimations to all shareholders whose email IDs are registered with the company or depositories.

Dividend Details and Tax Implications

The key parameters of the announced dividend are summarised below:

In accordance with the provisions of the Income-tax Act, 2025, as amended by the Finance Act, 2026, and applicable with effect from April 1, 2026, dividend declared and paid by the company is taxable in the hands of shareholders. The company is accordingly required to deduct tax at source from the dividend at prescribed rates.

TDS Provisions for Resident Shareholders

For resident shareholders, tax is required to be deducted at source under Section 393(1) (Table Sl. No. 7) of the IT Act, 2025, at the rate of 10% on the dividend amount, provided shareholders have registered a valid Permanent Account Number (PAN). In cases where shareholders do not have a PAN, or hold an inoperative or invalid PAN not linked with Aadhaar, TDS will be deducted at the higher rate of 20% under Section 397(2) of the IT Act, 2025.

The following categories of resident shareholders may be exempt from TDS, subject to submission of requisite documents:

• Resident Individuals: No TDS if total dividend during FY 2026-27 does not exceed ₹10,000, or upon submission of Form 121 meeting all eligibility conditions, or upon production of an exemption certificate from the Income-tax Department.
• Insurance Companies: Subject to self-declaration and submission of PAN and IRDA/LIC/GIC registration certificate under Section 393(4)(Table Sl. No. 10).
• Mutual Funds: Registered with SEBI and notified under Schedule VII (Table: Sl. No. 20 or 21) of the IT Act, 2025, upon submission of self-declaration and PAN.
• Alternative Investment Funds (AIF): Category I or Category II AIFs registered with SEBI, as specified at Schedule V (Table: Sl. No. 1) of the IT Act, 2025.
• NPS Trust: Subject to self-declaration under Section 393(9) of the IT Act, 2025.
• Business Trusts and Government/RBI/Central Act Corporations: As covered under Section 393(4) and Section 393(5)(a)/(b)/(c) of the IT Act, 2025.

TDS Provisions for Non-Resident Shareholders

For non-resident shareholders, withholding tax under the domestic tax law is applicable at the rate of 20% (plus applicable surcharge and cess) as per Section 393(2) of the IT Act, 2025. For dividend paid to a specified fund referred to in Schedule VI [Note 1(g)] of the IT Act, 2025, tax will be deducted at 10%.

Non-resident shareholders may opt to be governed by the provisions of the applicable Double Tax Avoidance Agreement (DTAA) under Section 159 of the IT Act, 2025, if more beneficial. To avail DTAA benefits, shareholders are required to submit the following:

• Self-attested copy of PAN card allotted by Indian Income Tax authorities
• Self-attested copy of Tax Residency Certificate (TRC) for the financial year April 1, 2026 to March 31, 2027
• Mandatory online filing of Form 41 at the Income Tax e-portal for those with PAN proposing to claim treaty benefits
• Self-declaration of treaty eligibility and beneficial ownership requirements
• Copy of SEBI registration certificate (for Foreign Institutional Investors and Foreign Portfolio Investors)
• Relevant letter from competent authority for shareholders tax-resident in Singapore regarding Article 24 of the India-Singapore DTAA

PAN-Aadhaar Linkage and Other TDS Considerations

As per Section 262 of the IT Act, 2025, shareholders who have been allotted a PAN and are eligible to obtain Aadhaar are required to link the two. Failure to do so will render the PAN invalid or inoperative, resulting in TDS being deducted at 20% under Section 397 of the IT Act, 2025. Additionally, under Rule 203 of the I.T. Rules, 2026, shareholders whose dividend income is assessable in the hands of a person other than the deductee are required to file a declaration with the company.

Document Submission and Shareholder Action Required

Shareholders seeking exemption from TDS or a lower withholding tax rate are requested to submit all relevant documents — including PAN, Form 121, Form 41, self-declaration forms, and other prescribed annexures — to the company's Registrar and Transfer Agent, M/s. Maheshwari Datamatics Pvt. Ltd., 23 R.N. Mukherjee Road, 5th Floor, Kolkata - 700001, or via email at compliance@mdpplcorporate.com / contact@mdpplcorporate.com , or at taxondividend@eveready.in , latest by July 31, 2026. Documents submitted after this date will be considered at the sole discretion of the company. Shareholders whose tax is deducted at a higher rate due to incomplete documentation may claim a refund through their return of income filed with the respective tax authorities. The company will email a soft copy of the TDS certificate to shareholders' registered email IDs after payment of the dividend, and TDS credit can also be viewed in Form 168 on the Income Tax e-filing portal.

The company is also participating in the 100 days Campaign - "Saksham Niveshak" initiative of the Investor Education and Protection Fund Authority (IEPF), Ministry of Corporate Affairs, running from April 1, 2026 to July 9, 2026. Shareholders who have not claimed their dividends for FY 2023-24 and FY 2024-25 are encouraged to update their KYC details and claim outstanding dividends before the transfer of such amounts and corresponding equity shares to the IEPF. Shareholders are also informed of a Special Window for re-lodgement of transfer deeds of physical shares that were lodged before April 1, 2019 but were rejected or returned, available for a period of one year from February 5, 2026 to February 4, 2027, pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026.