Max Healthcare Institute penalised ₹32.81 lakh by Income Tax Department

Max Healthcare Institute has been penalised ₹32.81 lakh by the Income Tax Department for transactions adjusted through journal entries against receivables such as employee security deposits or vendor adjustments. The Assessment Unit determined that these entries, used to square off or settle internal liabilities, should be considered as acceptance or repayment of loans or deposits through non-prescribed modes, leading to the imposition of the penalty. The company received the order on June 30, 2026, at 9.57 am IST.

The management stated that apart from the monetary penalty, there is no other impact on the financial, operational, or other activities of the company. The company is currently in the process of filing an appeal against the order. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the Order

S. No.	Particulars	Details
1.	Name of the authority	Assessment Unit, Income Tax Department
2.	Nature and details of the action(s) taken or order(s) passed	The IT Department has levied a penalty of ₹32,81,528.
3.	Date of receipt of direction or order	Received by the Company on June 30, 2026 at 9.57 am (IST).
4.	Details of the violation(s)/ contravention(s) committed	Penalty of ₹32,81,528 has been imposed for transactions of the Company against its receivables (such as employee security deposits or vendor adjustments) that were passed through journal entries in the books to square off or settle internal liabilities. The IT Department considered the above transactions as acceptance or repayment of loans or deposits through non-prescribed modes and levied the aforesaid penalty.
5.	Impact on financial, operation or other activities	Other than above amount to be paid by the Company, there is no other impact on financial, operational or other activities of the Company. The management is in process of filing an appeal against the Order.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.61%	-1.88%	-0.04%	+8.69%	-14.16%	+286.79%

Max Healthcare Institute has fixed Friday, July 3, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹2 per equity share. The payout, equivalent to 20% of the face value of ₹10, is recommended for the financial year ended March 31, 2026, and is subject to approval at the upcoming Annual General Meeting. Shareholders must ensure their KYC and bank details are updated to receive the dividend electronically, as physical payouts are not permitted under current regulations.

The Board of Directors recommended the dividend at its meeting on May 21, 2026. Once approved, the dividend will be paid within the stipulated time via electronic mode, subject to tax deduction at source. Members holding shares in dematerialised form must update details with their Depository Participants, while those with physical holdings must submit Form ISR-1 and relevant documents to the Registrar and Share Transfer Agent, MUFG Intime India Private Limited.

The company has scheduled its Twenty-Fifth Annual General Meeting for Thursday, July 30, 2026, at 10:30 am IST. In compliance with Ministry of Corporate Affairs circulars and SEBI Listing Regulations, the meeting will be conducted solely through Video Conference (VC) or Other Audio-Visual Means (OAVM) without a physical venue. Members attending via VC/OAVM will be counted towards the quorum under Section 103 of the Companies Act, 2013.

Key AGM and Dividend Details

Event	Date	Details
Record Date	July 3, 2026	Determination of dividend eligibility
AGM Date	July 30, 2026	25th Annual General Meeting via VC/OAVM
Dividend	₹2 per share	Final dividend for FY26 (20% of face value)

The Notice and Integrated Annual Report for FY26 will be sent electronically to members with registered email addresses. Physical copies are available upon request. The company has provided remote e-voting facilities, allowing members to cast votes before or during the meeting. Detailed instructions for participation and voting will be included in the notice.