Himatsingka Seide Limited has filed a disclosure with the stock exchanges on May 07, 2026, providing an update on its ongoing litigation with the Assistant Commissioner of Income Tax. The disclosure was made pursuant to Regulation 30 read with Part B of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in compliance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Nature of the Dispute

The litigation involves transfer pricing adjustments related to three distinct matters pertaining to Assessment Year 2008-09. The case is being heard before the Income Tax Appellate Tribunal, Kolkata, with the opposing party being the Assistant Commissioner of Income Tax. The key details of the dispute are outlined below:

The transfer pricing adjustments under dispute relate to the following:

• Corporate Guarantee provided by the company to its subsidiaries
• Inter-corporate loan provided by the company to its Associated Enterprise (AE)
• Exports made by the company to its subsidiary

Key Developments in the Proceedings

For Assessment Year 2008-09, both the Revenue and the company had filed appeals before the Income Tax Appellate Tribunal against the order passed by the Commissioner of Income Tax (Appeals). The Tribunal dismissed the appeal and deleted additions to the extent of Rs. 6.90 crores.

Subsequently, the Revenue filed an application for condonation of delay before the High Court, which has been accepted. In response to this development, Himatsingka Seide has proposed to file an appeal before the Supreme Court.

Settlement and Key Management Personnel

The company has confirmed that the litigation does not involve any key management personnel, promoters, or ultimate persons in control. Additionally, there has been no settlement of the proceedings, and accordingly, no terms of settlement, compensation, or penalty are applicable at this stage.

The disclosure was signed by Bindu D., Company Secretary and Compliance Officer of Himatsingka Seide Limited, from the company's registered office at No. 4/1-2, Crescent Road, Bangalore – 560001, India.

Himatsingka Seide Limited has published its postal ballot notice in newspapers as required under SEBI regulations, seeking shareholder approval for key corporate governance matters through remote e-voting.

Regulatory Compliance and Publication

The company published the postal ballot notice on April 30, 2026, in Business Standard (All Editions) and Vartha Bharathi (Kannada) newspapers. This publication fulfills the requirements under Part-A of Regulation 30 and Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Special Business Items for Approval

Shareholders will vote on three critical special business items through the postal ballot process:

Both executive remuneration approvals cover the remaining tenure of two years ending May 31, 2028.

E-Voting Process and Timeline

The company has engaged KFin Technologies Limited as the share transfer agent to provide remote e-voting facilities. The voting process follows MCA guidelines, including General Circular No. 14/2020 dated April 8, 2020, and the latest circular no. 03/2025 dated September 22, 2025.

Shareholder Information and Support

The postal ballot notice was sent electronically on April 29, 2026, to all members whose email addresses are registered with the company or depository participants as of the cut-off date. Physical copies will not be distributed, and all voting must be conducted through the remote e-voting platform.

Shareholders can access detailed instructions and support through:

• Company website: https://www.himatsingka.com/investors/notifications
• KFin e-voting portal: http://evoting.kfintech.com
• Toll-free support: 1800 309 4001

Scrutinizer Appointment and Results Declaration

The Board has appointed CS Vinod Sundar Raman (C.P. No. 22422) or CS Megha Mehta (C.P. No. 21214) from M/s. Megha Mehta & Co. LLP as scrutinizer to ensure fair and transparent conduct of the postal ballot process. Results will be declared within two working days of voting conclusion and published on the company's website and stock exchange platforms.