Star Paper Mills Limited has received an ex-parte assessment order from tax authorities in Uttar Pradesh, demanding additional tax payment of Rs. 115.27 lacs for the financial year 2015-16. The company disclosed this development to stock exchanges under Regulation 30 of SEBI (LODR) Regulations, 2015.

Assessment Order Details

The ex-parte assessment order was issued by the Deputy Commissioner, Sector-2, Saharanpur-UP and is dated 30/03/2026. The company received this order on 1st May, 2026. The assessment pertains to UPVAT (Uttar Pradesh Value Added Tax) for the year 2015-16.

Company's Response Strategy

Star Paper Mills has indicated that it will contest the assessment order through proper legal channels. The company plans to file a review application to re-open the case and assessment, suggesting it disputes the findings of the tax authorities. This approach indicates the company's confidence in challenging the additional tax demand.

Impact Assessment

According to the company's disclosure, the assessment order will not have any material impact on its financial position, operations, or other business activities. This statement suggests that the company either has adequate provisions for such contingencies or believes the demand will be successfully contested through the review process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, which requires listed companies to inform stock exchanges about material events and developments. The communication was sent to both the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited through Company Secretary Saurabh Arora on 1st May, 2026.

Star Paper Mills Limited has officially communicated to stock exchanges that it does not fall under the Large Corporate category as defined by SEBI's regulatory framework for the financial year ending March 31, 2026.

Regulatory Compliance Disclosure

The company submitted a formal disclosure to both the National Stock Exchange of India Limited and BSE Limited on April 9, 2026, clarifying its status under SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. This circular pertains to fund raising by issuance of debt securities by Large Corporates and the associated annual disclosures and compliance requirements.

Financial Position

A key highlight of the disclosure is the company's debt-free status. Star Paper Mills Limited reported zero borrowings as of March 31, 2026, which significantly impacts its classification under the Large Corporate framework.

Stock Exchange Communication

The formal communication was signed by Company Secretary Saurabh Arora and submitted to both major Indian stock exchanges where the company's shares are listed. The disclosure ensures transparency regarding the company's regulatory compliance status and helps investors understand the applicable framework for the entity.

This announcement provides clarity to stakeholders about Star Paper Mills Limited's current financial structure and regulatory obligations, particularly emphasizing its debt-free operational model as of the latest financial year end.