TVS Srichakra Limited has received a significant reduction in its income tax demand for FY 2017-18 (AY 2018-19), following a rectification order issued by the Deputy Commissioner of Income Tax. The rectification order, dated 29th April 2026 and received by the company via email on 7th May 2026, has reduced the tax demand from ₹29,47,06,740 to ₹3,11,10,474 (comprising Tax Portion). The development was disclosed by the company under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 08, 2026.

Background of the Original Tax Demand

The original income tax demand was raised vide a notice issued by the Assessment Unit of the Income Tax Department bearing DIN No. ITBA/AST/S/156/2025-26/1087920366(1), dated 26th March 2026. The demand related to a disallowance under Section 14A of the Income-tax Act, 1961, for FY 2017-18 (AY 2018-19). TVS Srichakra had disclosed the receipt of this original order to the stock exchanges on 26th March 2026.

Rectification Order: Key Details

Pursuant to a rectification application submitted by the company, the Deputy Commissioner of Income Tax issued a rectification order reducing the tax demand substantially. The following table summarises the key details of the rectification:

Company's Response and Appeal Status

TVS Srichakra has stated that it will further evaluate the rectification order and shall take appropriate action as deemed necessary. In addition to the rectification application, the company had also filed an appeal against the original order dated 26th March 2026, before the Commissioner of Income Tax (Appeals). The said appeal remains pending for hearing.

Impact on Financial Position

The company has clarified that there is no material impact on its financial position, operations, or other activities arising out of the aforementioned rectification order. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and was signed by Chinmoy Patnaik, Company Secretary & Compliance Officer (Membership No. A14724).

TVS Srichakra Limited has launched its second 100-Days Campaign titled "Saksham Niveshak" to encourage shareholders to update their KYC details and claim unpaid dividends. The initiative, announced on April 24, 2026, follows directives from the Investor Education and Protection Fund Authority (IEPFA) and aims to prevent the transfer of unclaimed dividends and shares to the IEPF.

Campaign Duration and Objectives

The "Saksham Niveshak" campaign commenced on April 1, 2026, and will conclude on July 9, 2026. This initiative specifically targets shareholders who have outstanding issues related to dividend claims and KYC compliance.

Eligible Shareholders and Benefits

The campaign addresses multiple shareholder categories and provides comprehensive support for various compliance requirements. Shareholders who have not claimed dividends for financial years from 2018-19 to 2024-25 are particularly encouraged to participate.

Eligible participants include:

• Shareholders with unclaimed dividends from 2018-19 to 2024-25
• Investors who have not updated their KYC details
• Shareholders facing issues with unclaimed dividends and shares
• Investors requiring updates to bank mandates, nomination, and contact information

Process for Different Shareholder Categories

The company has established distinct procedures for shareholders based on their shareholding format. Physical and dematerialized shareholders follow different processes to ensure compliance.

Registrar and Transfer Agent Details

TVS Srichakra Limited has appointed Integrated Registry Management Services Private Limited as its Registrar and Transfer Agent to facilitate the campaign processes. Shareholders can contact the RTA for all campaign-related queries and documentation.

Documentation and Compliance Requirements

The campaign emphasizes proper documentation to ensure successful processing of shareholder requests. The company has made relevant forms and information available through its official website at the investor relations helpdesk section. Shareholders are encouraged to utilize this opportunity to complete their compliance requirements and secure their dividend entitlements before the campaign concludes.