Himatsingka Seide Limited announced a favorable outcome in its ongoing tax dispute with the Assistant Commissioner of Income Tax, as disclosed in a regulatory filing dated April 17, 2026. The Income Tax Appellate Tribunal, Kolkata dismissed the Revenue's appeal, resulting in the deletion of additions worth Rs. 5.85 crores for Assessment Year 2009-10.

Regulatory Disclosure Details

The company filed the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, providing comprehensive updates on the litigation proceedings. The filing was submitted to both BSE Limited (Scrip Code: 514043) and National Stock Exchange of India Limited (Symbol: HIMATSEIDE) through reference number HSL/SEC/2026/18.

Transfer Pricing Dispute Background

The litigation centered on transfer pricing adjustments involving three specific business transactions. The dispute encompassed corporate guarantees provided by the company to its subsidiaries, loans extended to Twill & Oxford LLC (a voluntarily liquidated associate company) and Himatsingka America Inc. (a step-down subsidiary), and the classification of investment in Bellora as revenue in nature for business purposes.

Tribunal Ruling and Financial Impact

The Income Tax Appellate Tribunal, Kolkata ruled in favor of Himatsingka Seide Limited, dismissing the Revenue's appeal against the Commissioner of Income Tax (Appeals) order. This decision resulted in the deletion of additions totaling Rs. 5.85 crores, providing significant financial relief to the company.

Compliance and Management Impact

The company confirmed that no changes occurred in litigation status regarding key management personnel, promoters, or ultimate persons in control. The proceedings concluded without any settlement terms, compensation, or penalties, indicating a complete favorable resolution for the textile manufacturer.

The disclosure was signed by Company Secretary & Compliance Officer Y Bindu, emphasizing the company's commitment to transparent regulatory compliance and stakeholder communication regarding material legal developments.

Himatsingka Seide Limited has announced strategic senior management appointments to strengthen its leadership team across key business verticals. The company disclosed the appointments to BSE Limited and National Stock Exchange of India Limited on April 10, 2026, in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

New Leadership Appointments

The company has appointed two experienced professionals to president-level positions, both effective from April 9, 2026. These appointments reflect the company's focus on strengthening its operational capabilities across different business segments.

Executive Profiles

Gaurav Sharma brings extensive expertise as a Sales & Marketing professional with over two decades of experience specifically in the textile & apparel industry. In his role as President & Business Head – Apparel & Fabric Solutions, he will oversee the company's apparel and fabric business operations.

Sajjad Mubarak Khan contributes significant industry knowledge as a Sales professional with more than 27 years of experience in the fashion & apparel industry. As President & Business Head– Sales (Home Textiles & Yarn Solutions), he will lead the sales operations for the company's home textiles and yarn business segments.

Regulatory Compliance

The appointments were formally communicated to stock exchanges through a disclosure letter dated April 10, 2026, signed by Company Secretary & Compliance Officer Bindu D. The communication referenced SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, ensuring full compliance with regulatory requirements.

Both appointments are categorized as new appointments rather than re-appointments, resignations, or other forms of management changes. The terms of appointment are specified as "Not Applicable" in the regulatory filing, indicating these are permanent senior management positions.