Karur Vysya Bank has received an order from the Commissioner of Income Tax (Appeals) partly allowing its appeal against a demand of Rs 40.34 crore for Assessment Year 2022-23. The demand was raised by the Faceless Assessing Officer, National Faceless Assessment Unit. The bank stated that based on precedents and orders of appellate authorities, it believes it has adequate grounds to substantiate its position and expects the entire demand will be set aside. Consequently, the bank reported that there is no impact on its financial, operational, or other activities.

The litigation was initiated on April 12, 2024. Following the receipt of the demand order, the bank had filed an appeal before the first appellate authority. The recent order from the National Faceless Appeal Centre provides partial relief. The bank is currently in the process of challenging the remaining aspects of the order in the appropriate forum within the prescribed guidelines.

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing references a communication dated April 03, 2024, and adheres to the disclosure requirements outlined in the SEBI Master Circular dated January 30, 2026.

Litigation Details

The following table outlines the specifics of the dispute and its current status:

The bank remains confident in its legal position and anticipates a favorable outcome in the appellate forum.

Karur Vysya Bank has issued a public notice regarding the transfer of equity shares, on which dividends have remained unclaimed for seven consecutive years, to the Investor Education and Protection Fund (IEPF). The bank published newspaper advertisements on May 13, 2026, in compliance with Regulation 30 and 47 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as well as Section 124(6) of the Companies Act, 2013 and the IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016.

Newspaper Publication Details

The notice was published simultaneously in two newspapers on May 13, 2026, ensuring broad reach across English and Tamil-speaking audiences. The details of the publications are as follows:

Key Dates and Compliance Requirements

The bank has identified shareholders whose dividends have remained unclaimed for seven consecutive years beginning from FY 2018-19. Individual communications have been sent to all concerned shareholders whose shares are liable for transfer. The critical deadline and transfer details are outlined below:

Shareholders who do not submit a valid claim on or before August 18, 2026 to the bank's Registrar and Share Transfer Agent or to the bank's Registered and Central Office will have their shares transferred to the IEPF account without further notice. All future benefits, including dividends arising from such transferred shares, will also be directed to the IEPF thereafter. The bank has clarified that no shares or dividends subject to a specific court or tribunal restraining order will be transferred.

Reclaim Process for Affected Shareholders

Shareholders whose shares and unclaimed dividends are transferred to IEPF retain the right to reclaim them by following the prescribed procedure:

• Submit an online application in Form IEPF-5, available at www.iepf.gov.in , as per rules prescribed by the Central Government.
• Send a duly signed copy of the completed Form IEPF-5, along with all required documents, to: The Nodal Officer, Investor Relations Cell, Registered & Central Office, No. 20, Erode Road, Vadivel Nagar, L.N.S., Karur – 639002.
• The bank will, within 30 days of receipt of the claim, send a verification report to the IEPF Authority along with all documents submitted by the claimant.
• Upon verification, the IEPF Authority may release the shares and/or dividend directly to the claimant.

Contact Information for Shareholder Queries

Shareholders with queries may reach out through the following channels:

The notice was signed by Srinivasarao Maddirala, Company Secretary and Compliance Officer of Karur Vysya Bank, and is dated May 12, 2026. A list of affected shareholders is available on the bank's website at https://www.kvb.bank.in/investor-corner/iepf-unclaimed-dividends/index.html .