Bharat Seats Limited has announced a substantial acquisition disclosure regarding the acquisition of equity shares by Rohit Relan Family Trust during the financial year 2025-26. The company informed the stock exchange about this development on April 28, 2026, in compliance with regulatory requirements.

Acquisition Details

The disclosure reveals significant shareholding changes in the company's ownership structure:

Regulatory Compliance

The acquisition was conducted under specific regulatory provisions and exemptions. The trust operated under SEBI exemption order no. WTM/KCV/CFD/03/2025-26 dated September 4, 2025, issued under Regulation 11(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

As per the exemption order requirements, the trust obtained compliance certification from an independent auditor. The compliance certificate was issued on April 16, 2026, confirming adherence to the prescribed regulatory framework.

Disclosure Process

Bharat Seats Limited received the disclosure documents along with the compliance status certificate from Rohit Relan Family Trust. Company Secretary and Compliance Officer Ritu Bakshi (Membership No. F3401) signed the disclosure letter on behalf of the company.

The disclosure was made pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in substantial shareholding changes. The company has forwarded copies of the disclosure to both the stock exchanges and SEBI for their records and public dissemination.

Trust Information

Rohit Relan serves as the Managing Trustee of Rohit Relan Family Trust. The trust is based at 25, Sardar Patel Marg, Chanakyapuri, New Delhi - 110021. The acquisition represents a significant investment in Bharat Seats Limited, establishing the trust as a substantial shareholder in the automotive seating solutions company.

Bharat Seats Limited has received appellate orders from the Income Tax Department that significantly reduce the company's outstanding tax demand. The orders, dated April 24, 2026, and received on April 27, 2026, cover multiple assessment years and provide substantial relief to the automotive seating manufacturer.

Appellate Orders Details

The company received orders from the Commissioner of Income Tax (Appeals)-27, New Delhi, covering assessment years 2018-19 to 2021-22 and 2023-24 to 2024-25. These appellate orders were issued under section 250 of the Income Tax Act 1961.

Financial Impact and Demand Reduction

The appellate orders have resulted in a substantial reduction in the company's tax liability. The financial impact shows a significant improvement in the company's position regarding outstanding tax demands.

Pending Matters and Future Course

While the company has received favorable orders for six assessment years, one matter remains pending. The appeal for assessment year 2022-23 is still under consideration before the Commissioner of Income Tax (Appeals).

The company's management has indicated that the outstanding demand of Rs 12.25 crores will reduce to Rs 2.45 crores after the appeal effect order is passed by the assessing officer in accordance with the Commissioner's orders. Bharat Seats Limited plans to file appeals before the Income Tax Appellate Tribunal against the remaining balance demand of Rs 2.45 crores.

Regulatory Compliance

The company disclosed this information under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made through Company Secretary and Compliance Officer Ritu Bakshi, highlighting the company's commitment to transparent communication with stakeholders regarding material developments.