Max India Limited has provided an update regarding the income tax assessment order received by its subsidiary company, with new developments indicating a more favorable outlook for the tax demand resolution.

Tax Assessment Update

Antara Purukul Senior Living Limited (APSLL), a step-down wholly owned subsidiary of Max India Limited, had received an assessment order under Section 143(3) of the Income Tax Act, 1961, on March 24, 2026. The order raised a tax demand of Rs. 31.53 crore for the assessment year 2024-25.

Rectification Application Filed

Following a preliminary evaluation of the assessment order, APSLL has filed a rectification application with the Income Tax Department on March 30, 2026. The company believes that certain mistakes apparent on record resulted in the demand, primarily due to non-consideration of brought forward losses and other eligible tax attributes.

Expected Financial Impact

After giving due effect to brought forward losses and eligible tax attributes, APSLL expects that the resultant tax liability would be NIL. The company remains confident of a favorable outcome and does not expect any material financial impact on its financial statements.

Legal Strategy

Without prejudice to the rectification application, APSLL is also in the process of filing an appeal before the Commissioner of Income Tax (Appeals) against the additions made in the assessment order, within the prescribed timelines. This dual approach ensures comprehensive coverage of all available legal remedies.

Regulatory Compliance

Max India Limited disclosed this update pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has committed to keeping the exchanges informed on further developments in the matter.

Max India has achieved a significant healthcare milestone with its Antara Senior Care Home in Noida becoming the first assisted living facility in the city to receive NABH (National Accreditation Board for Hospitals & Healthcare Providers) accreditation. The company announced this achievement through a regulatory filing under Regulation 30 of SEBI (LODR) Regulations, 2015.

Industry Leadership in North India

The accreditation establishes Max India as the only assisted living provider in North India with NABH-accredited care homes. This marks the second facility in the Antara network to receive this prestigious recognition, following the Gurugram Care Home which became the first facility in India to receive this certification in 2025.

NABH Accreditation Significance

NABH accreditation represents one of the most stringent quality benchmarks in the Indian healthcare sector. The Noida facility was assessed across several critical parameters including resident safety, quality of life measures, clinical governance, staff qualifications and training, medication management, and infection prevention and control.

Ishaan Khanna, CEO, Antara Assisted Care Services, stated: "Choosing a care home for a loved one is ultimately a decision made on trust. The NABH accreditation offers that trust as proof. It means that here care is delivered through defined processes, by qualified and trained professionals, against standards that are independently verified."

Facility Services and Infrastructure

The 53-bed Antara Care Home in Noida's Sector 66 offers comprehensive senior care services with state-of-the-art infrastructure. The FFRO-licensed facility provides both residential care and clinical supervision for post-surgery or acute illness recovery.

Market Position and Future Goals

Prem Singh Rathore, Chief Quality Officer, Antara Senior Care, emphasized: "NABH accreditation represents an important shift toward making ecosystems more structured, accountable, scalable with readiness to deliver standardised care. Achieving this accreditation reflects Antara's commitment to operational excellence."

The company aims to extend this standard across its care home network in Delhi-NCR, Bangalore and Chennai. With eight facilities and 485 beds across multiple cities, Antara continues to expand its footprint in India's evolving senior care sector, addressing the growing need as India's senior population is projected to more than double to approximately 350 million by 2050.