Himatsingka Seide Limited filed a disclosure on April 17, 2026, providing an update on ongoing litigation proceedings pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The submission detailed developments in a tax dispute involving transfer pricing adjustments that has been under consideration before the Income Tax Appellate Tribunal, Kolkata.

Background of the Dispute

The litigation case involves the Assistant Commissioner of Income Tax as the opposing party and addresses transfer pricing adjustments related to three specific matters. These include 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 Decision

For the Assessment Year 2009-10, the Revenue filed an appeal before the Income Tax Appellate Tribunal against the order passed by the Commissioner of Income Tax (Appeals). The Tribunal has now dismissed this appeal, resulting in the deletion of additions to the extent of Rs. 5.85 crores.

The company confirmed that there are no changes in status regarding litigation against key management personnel, promoters, or ultimate persons in control. Additionally, no settlement terms, compensation, or penalties were involved in this proceeding.

Summary

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.