Mawana Sugars received a Goods and Services Tax audit notice from the Joint Commissioner (Tax Audit), Meerut, raising a demand of ₹12,94,107 against its Nanglamal unit. The communication, dated September 3, 2026, relates to findings from the financial year 2022-23.

The company disclosed the receipt under Regulation 30 of the SEBI (LODR) Regulations 2015. The demand arises from a departmental audit conducted by the State Tax authority in Uttar Pradesh.

Demand Breakdown

The total liability imposed comprises three distinct components as detailed in the regulatory filing:

The source explicitly states there will be no further financial implication on the company beyond this specific amount. No penalties or restrictions were imposed alongside the tax demand.

Company Response

Mawana Sugars intends to file an appeal against the notice within the stipulated time period. The company has not identified any specific aberrations or non-compliances in the communication details provided to the exchanges.

What the Numbers Show

The interest component of the demand is negligible at ₹386, representing less than 0.03% of the total liability. This suggests the dispute centers on the principal tax assessment and associated adjustments rather than prolonged delays in payment or accumulated penalties.

Mawana Sugars has completed the dispatch of its postal ballot notice, seeking shareholder approval for key governance resolutions including the re-appointment of an independent director and the approval of managing director remuneration.

The company sent the notice electronically on August 18, 2026, to all members whose email addresses were registered with the company or depository participants as of the cut-off date of August 14, 2026. In compliance with Ministry of Corporate Affairs (MCA) circulars, physical copies of the notice and postal ballot form were not dispatched.

Key Resolutions

The postal ballot covers two special business items:

• Re-appointment of Mr. Satish Agrawal (DIN: 00167589) as Non-Executive Independent Director for his second term.
• Approval of remuneration payment to Mr. Rakesh Kumar Gangwar (DIN: 09485856), Managing Director, for one year from August 13, 2026, to August 12, 2027.

Voting Process

Shareholders will cast their votes via remote e-voting facilitated by National Securities Depository Limited (NSDL). The Board appointed M/s Nirbhay Kumar & Associates as the scrutinizer to ensure a fair and transparent process.

Once a vote is cast, it cannot be changed. Only members recorded in the Register of Members or Register of Beneficial Owners as of the cut-off date are eligible to vote.

Compliance Updates

The company advised members to update their PAN, KYC details, and nomination information as mandated by recent SEBI circulars issued in May, September, and November 2023. Physical shareholders must submit Form ISR-1 to the Registrar and Transfer Agent, while demat holders must update details with their respective depository participants.