Schneider Electric Infrastructure Limited , a prominent player in the electrical equipment sector, has successfully obtained a stay order from the Gujarat High Court against a substantial income tax demand of ₹18.53 crore for the Assessment Year 2017-18.

Legal Victory

The company announced that the Gujarat High Court at Ahmedabad granted a stay order against the Assessment Order passed by the Income Tax Department. This order had demanded a tax amount of ₹18,52,64,754 after income adjustments, made under Section 147 read with Section 144B of the Income Tax Act.

Stay Order Details

The stay order effectively suspends the enforcement and execution of the Assessment Order until the disposal of Schneider Electric Infrastructure's writ petition. This development provides temporary relief to the company from the significant tax liability.

Background of the Case

The tax demand arose from an assessment made by the Assessment Unit of the Income Tax Department for the Assessment Year 2017-18. The assessment, which led to substantial income adjustments, was conducted under specific sections of the Income Tax Act.

Company's Response

Schneider Electric Infrastructure Limited, in its disclosure to the stock exchanges under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015, stated that it had filed an application with the Gujarat High Court challenging the Assessment Order. The company has committed to keeping stakeholders informed of any further updates on this matter.

Market Implications

While the stay order provides temporary relief, the final outcome of the writ petition could have significant financial implications for Schneider Electric Infrastructure Limited. Investors and market analysts will likely keep a close watch on further developments in this legal proceeding.

The company, with its corporate office in Gurgaon and registered office in Vadodara, continues to operate in the infrastructure and energy management sectors while navigating this tax-related challenge.

Schneider Electric Infrastructure Limited will undoubtedly be focusing on resolving this tax issue while maintaining its business operations in the competitive electrical equipment market.

Schneider Electric Infra has announced a significant change in its top management. The company's Chief Financial Officer (CFO), Ms. Suparna Banerjee Bhattacharyya, has tendered her resignation, marking the end of her tenure with the organization.

Key Details of the Resignation

• Resignation Date: Ms. Bhattacharyya submitted her resignation on July 21, 2025.
• Effective Date: The resignation will take effect from July 21, 2025.
• Reason: The CFO is leaving to pursue career opportunities outside the organization.
• Additional Roles Relinquished: Along with her position as CFO, Ms. Bhattacharyya will also step down from her roles as Key Managerial Personnel and Senior Management Official of the company.

Company's Response

Schneider Electric Infrastructure Limited has promptly informed the stock exchanges about this development. The company stated in its regulatory filing that the last working day of Ms. Bhattacharyya, along with her formal resignation letter, will be communicated to the stock exchanges in due course.

Impact on the Company

The departure of a Chief Financial Officer is a significant event for any publicly traded company. As CFO, Ms. Bhattacharyya played a crucial role in overseeing the financial operations and strategy of Schneider Electric Infrastructure Limited. The company will now face the task of finding a suitable replacement to ensure a smooth transition and continued financial leadership.

Next Steps

Investors and stakeholders will be keenly watching for further announcements from Schneider Electric Infrastructure Limited regarding:

1. The appointment of a new CFO
2. Any interim arrangements for the CFO position
3. The exact last working day of Ms. Bhattacharyya

As per the regulatory filing, these details are expected to be communicated by the company in the near future.

Schneider Electric Infrastructure Limited is known for its operations in the electrical equipment sector. Shareholders and potential investors are advised to keep an eye on further announcements from the company regarding this transition in its financial leadership.