TeamLease Services received an interim order dated June 17, 2026, from the Hon'ble High Court of Karnataka regarding Writ Petition No. 18126/2026. The petition challenges an Order-in-Appeal dated January 30, 2026, from the Commissioner of CGST & Central Excise (Appeals-III), Mumbai, which upheld a penalty of approximately ₹32.29 crore. The company stated that no tax demand was raised and there is no material impact on operations at this stage.

The Order-in-Appeal arises from proceedings initiated by the Directorate General of GST Intelligence. The authorities alleged the issuance of invoices without an underlying supply of services for manpower services rendered between July 2017 and July 2022. A penalty was imposed under Section 122(1)(ii) read with Section 74 of the CGST Act, 2017. The company contends that it duly rendered services, issued valid GST invoices, and discharged the requisite tax, arguing that the order suffers from jurisdictional and legal infirmities.

TeamLease Services had filed the writ petition on June 12, 2026, challenging the said order. The company disclosed that the matter had been previously reported as a contingent liability under Note 46(f) in the standalone financial statements for FY25. The company noted that a similar case re-opened under Section 147 of the Income Tax Act, 1961, for the period FY2019 to FY2022 was closed with NIL observations.

The following table outlines the key details of the regulatory communication and the company's response:

The company attributed the delay in intimation to the initial decision to disclose the matter as a contingent liability since there was no financial implication at the time the demand notices were received. Management has revised its recommendation to intimate stock exchanges of all demand and show cause notices based on the materiality threshold, irrespective of their disclosure as contingent liabilities. TeamLease Services stated it remains committed to ensuring full compliance with applicable laws and will inform the exchanges of any material developments.

teamlease services has fixed Friday, July 3, 2026, as the record date to determine shareholder eligibility for its proposed buyback of equity shares. The company intends to repurchase up to 14,87,500 fully paid-up equity shares at a price of ₹1,600 per share on a proportionate basis through the tender offer process. The buyback is subject to the approval of shareholders, which is currently being sought via postal ballot.

The Board of Directors approved the buyback proposal at its meeting on May 20, 2026. Subsequently, the Buyback Committee authorized the record date through a resolution passed on June 12, 2026. The initiative is being conducted in accordance with the Companies Act, 2013, and the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.

Shareholders can cast their votes through the remote e-voting facility, which opened on May 30, 2026, at 09:00 A.M. IST. The voting period will conclude on June 28, 2026, at 05:00 P.M. IST. The outcome of this voting process will determine whether the buyback proceeds to implementation.

Key Buyback Details

The company filed the intimation with the exchanges on June 17, 2026, under Regulation 42 of the SEBI LODR Regulations, 2015, and Regulation 9(i) of the SEBI Buyback Regulations.