JSW Dulux Limited received a show cause notice from the West Bengal GST Department on September 24, 2026, demanding ₹56.72 lakh for the disallowance of Input Tax Credit (ITC) for the period April 2022 to March 2023.

The notice, issued by the Assistant Commissioner of the Large Taxpayers Unit under Section 73 of the CGST Act, 2017, cites discrepancies identified during GST scrutiny. The total liability comprises tax, interest, and penalty components.

Breakdown of financial implications

The company disclosed the expected financial impact and quantum of claims in its regulatory filing. The total amount demanded is ₹56,72,479.04.

Management response

JSW Dulux stated that the matter is currently open for further submissions before the relevant authorities. The company is in the process of responding to the notice within the stipulated time frame mentioned therein. As this is a show cause notice, the final outcome remains subject to the adjudication process by the tax authorities.

JSW Dulux Limited has fixed October 22, 2026 as the record date for determining shareholder eligibility for its recently approved equity share split. This decision follows the successful postal ballot voting concluded on September 20, 2026.

The company announced on September 22, 2026, that shareholders holding equity shares of face value ₹10 each as of the record date will receive ten new shares of face value ₹1 each. This corporate action converts one existing fully paid-up equity share into ten fully paid-up equity shares.

Voting Results Breakdown

The e-voting process saw significant participation from institutional investors. Out of 51,038 shareholders on the cut-off date of August 7, 2026, 499 members cast their votes. This represents a total of 39,071,143 votes polled out of 45,540,314 outstanding shares, indicating an overall participation rate of approximately 85.8%.

Promoter group participation was absolute, with the promoters holding 27,871,723 shares voting unanimously in favor of all three resolutions. Public institutions also showed strong support, casting 11,176,599 votes in favor across the board. Non-institutional public shareholders participated to a lesser extent but still delivered decisive results.

Resolution Details

The first resolution, an ordinary resolution, sought approval for the sub-division of the face value of the company's equity shares. It received near-unanimous support, with only 345 votes cast against it, primarily from non-institutional public shareholders.

The second resolution, also ordinary, pertained to the alteration of the Capital Clause in the Memorandum of Association (MoA). This resolution passed with 39,070,753 votes in favor and 390 votes against.

The third resolution, classified as a special resolution, addressed the alteration of the Capital Clause in the Articles of Association (AoA). It secured 39,070,603 votes in favor, with 540 votes against. The slight variation in dissenting votes across resolutions reflects minor differences in individual shareholder preferences, though the outcome remained unchanged.

Next Steps

The Scrutinizer, Mr. A K Labh, submitted his report on September 21, 2026, confirming the validity of the voting process. JSW Dulux will now proceed with the implementation of the share split and the necessary regulatory filings to update its MoA and AoA. The detailed voting results and Scrutinizer's report are available on the company's website and the NSDL e-voting platform.