Maruti Suzuki discloses FY26 shareholding in JTEKT India

Maruti Suzuki India Limited has filed a disclosure with the National Stock Exchange of India Limited (NSE) and BSE Limited regarding its shareholding in JTEKT India Limited. The submission, dated April 3, 2026, complies with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 2011. The report details the encumbrance status of shares held by the promoter for the financial year ended March 31, 2026.

Disclosure of Encumbrance

The filing specifically addresses the encumbrance of shares by the promoter, Maruti Suzuki India Limited, in the target company, JTEKT India Limited . The shares of the target company are listed on both the NSE and BSE. The disclosure provides a breakdown of the promoter's holding and the specific details regarding the encumbrance created.

Shareholding Details

According to the data provided in the disclosure, Maruti Suzuki India Limited holds a significant stake in JTEKT India Limited. The table below outlines the specific number of shares held and the percentage of share capital they represent, both before and after the encumbrance event.

Name of the Promoter(s) or PACs	Promoter holding in target company (No. of shares)	Promoter holding in target company (% of total share capital)	Promoter holding already encumbered (No. of shares)	Promoter holding already encumbered (% of total share capital)	Post event holding encumbered shares (No. of shares)	Post event holding encumbered shares (% of total share capital)
Maruti Suzuki India Limited	1,50,54,545	5.43	NA	NA	1,50,54,545	5.43

The document confirms that the entire holding of 1,50,54,545 shares, which accounts for 5.43% of the total share capital, is currently encumbered. The filing was signed by Sanjeev Grover, Executive Officer & Company Secretary of Maruti Suzuki India Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.32%	-5.76%	-0.37%	-13.59%	-5.91%	+37.34%

JTEKT India Limited has disclosed that it received an Assessment Order from the Income Tax Department, Ministry of Finance, Government of India. The order pertains to the financial year 2022-23 and was received on 6 May 2026. The intimation was made on 7 May 2026 in accordance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Details of the Assessment Order

The Assessment Order has resulted in certain additions and disallowances amounting to INR 313.67 million relative to the income disclosed by the company in its Income Tax Return. Consequently, a notice of demand, inclusive of interest, totaling INR 137.36 million has been issued to the company. The key details of the order are outlined in the table below.

Parameter:	Details
Authority:	Income Tax Department, Ministry of Finance, Government of India
Nature of Action:	Assessment Order for FY 2022-23
Date of Receipt:	6 May 2026
Date of Intimation:	7 May 2026
Additions/Disallowances:	INR 313.67 million
Demand Notice (including interest):	INR 137.36 million

Context of the Proceedings

The assessment proceedings were concluded after considering the post-merger modified income tax return filed under section 170A of the Act. The subsidiary company, JTEKT Fuji Kiko Automotive India Limited, was merged with JTEKT India Limited effective 01 April 2022, pursuant to an order from the National Company Law Tribunal dated 12 December 2023. Additionally, the company has received a Show Cause Notice for the initiation of penalty proceedings in connection with the Assessment Order.

Company Response and Impact

In response to the order, JTEKT India has stated that it will be filing an appeal before the Commissioner of Income Tax (Appeals) against the additions and disallowances made. The company further clarified that there is no impact on the financial, operational, or other activities of the company due to this order.