Achal Anil Bakeri, promoter of Symphony Limited, has filed a regulatory disclosure with stock exchanges declaring that no encumbrance was created on the company's shares during the financial year ending March 31, 2026. The disclosure was submitted on April 03, 2026, in compliance with SEBI regulations governing substantial acquisitions and takeovers.

Regulatory Compliance Declaration

The declaration was made pursuant to Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Bakeri submitted the disclosure on behalf of both promoter and promoter group entities, confirming that no direct or indirect encumbrance on Symphony Limited shares occurred during FY26.

The filing was addressed to both the National Stock Exchange of India Limited (Symbol: Symphony) and BSE Limited (Security Code: 517385), ensuring comprehensive regulatory compliance across major stock exchanges.

Covered Entities and Persons

The declaration encompasses twelve distinct entities and individuals within the promoter and promoter group category:

Documentation and Verification

The disclosure document bears Bakeri's digital signature dated April 03, 2026, at 12:14:18 +05'30', providing authentication and timestamp verification. The filing was also copied to the company's Audit Committee, ensuring internal governance oversight of the declaration.

This regulatory filing demonstrates the promoter group's commitment to transparency and adherence to SEBI's disclosure requirements, providing shareholders and market participants with clear information about the absence of any encumbrance on promoter holdings during the specified financial year.

Symphony Limited has received a highly favorable VAT order that dramatically reduces the company's tax liability from ₹13.70 crore to just ₹12,563. The air cooling solutions manufacturer disclosed this development through a regulatory filing under Regulation 30 of SEBI (LODR) Regulations, 2015.

VAT Authority Order Details

The CST/VAT department in Lucknow, Uttar Pradesh passed the favorable order on March 28, 2026, which was received by the company on April 9, 2026. The order pertains to FY 2016-17 and represents a successful outcome of Symphony's appeal process.

Background and Appeal Process

As previously informed in the company's June 5, 2024 submission, the VAT department had initially passed an order for FY 2016-17 with incorrect enhancement in turnover, disallowing credit notes and not considering monthly payments. Symphony contested this assessment through an appeal process.

Regulatory Compliance and Impact

The authority reviewed Symphony's appeal positively, resulting in this substantial reduction in tax liability. The company has confirmed that except for the revised amount of ₹12,563, there will be no material impact on the company's financials, operations, or other activities. Symphony will pay the revised amount within the prescribed time limit.

Filing Details

The disclosure was signed by Mayur Barvadiya, Company Secretary and Head – Legal, on April 10, 2026, and submitted to both NSE (Symbol: Symphony) and BSE (Security Code: 517385) in compliance with SEBI listing regulations.

This favorable resolution removes a significant tax liability from Symphony's books and provides clarity on a long-standing tax matter, which is expected to be viewed positively by stakeholders.