Standard Glass Lining Technology Limited's promoter has pledged a significant portion of his equity holdings to three major financial institutions. The disclosure, made under SEBI takeover regulations, reveals the creation of pledge on 37,21,804 equity shares on January 09, 2026.

Pledge Details and Distribution

Promoter Ramakrishna Kandula pledged the shares across three financial institutions for personal borrowing requirements. The distribution of pledged shares shows strategic allocation among established lenders.

Shareholding Impact and Proportions

The pledged shares represent 1.86% of the company's total share capital and constitute 3.08% of the promoter's total shareholding. Kandula maintains a substantial stake in the company with 4,40,64,000 shares, representing 22.09% of total share capital.

Financial Valuation and Security Cover

The pledged shares were valued at ₹51.88 crores on the date of the pledge event. The pledge was created against a borrowing amount of ₹110.00 crores, resulting in a security cover ratio of 0.47. The company's disclosure indicates that these shares were additionally pledged solely to cover margin shortfall requirements.

Regulatory Compliance and Disclosure

The pledge creation was disclosed under Regulation 31(1) read with Regulation 28(3) of SEBI Takeover Code and Regulation 30 of SEBI Listing Obligations. The company confirmed that the encumbered shares do not exceed 50% of promoter shareholding or 20% of total share capital, maintaining compliance with regulatory thresholds.

Standard Glass Lining Technology Limited, formerly known as Standard Glass Lining Technology Limited, is listed on both BSE (scrip code: 544333) and NSE (symbol: SGLTL). The company operates from its facility at D.12, Phase-1, IDA Jeedimetla, Hyderabad, Telangana.

Standard Glass Lining Technology Limited, now known as Standard Engineering Technology Limited, has received an income tax assessment order imposing a demand of ₹1,64,96,940.00 for the financial year 2019-20. The company disclosed this development to stock exchanges on January 13, 2026, in compliance with SEBI regulations.

Assessment Order Details

The income tax demand stems from an assessment order passed under the provisions of the Income Tax Act 1961. The company received the communication on January 12, 2026, from the Assessment Unit of the Income Tax Department.

Company's Position on Assessment

Standard Engineering Technology has maintained its stance regarding the legitimacy of the questioned transactions. During FY 2019-20, the company received a notice regarding certain sales transactions that were subsequently reviewed by Income Tax authorities.

The company's key arguments include:

• All transactions were genuine and legitimate
• Complete recording in books of accounts
• Proper reporting in GST returns
• Settlement through banking channels with no cash involvement
• Full transparency in accounting and reporting practices

Financial and Operational Impact

According to the company's disclosure, there is no expected financial or operational implication on the listed entity. The management has indicated confidence in the correctness of its accounting practices and transaction reporting.

Next Steps and Legal Recourse

Standard Engineering Technology has outlined its response strategy to address the assessment order. The company plans to file the necessary appeal with the appellate authority within the permissible timeline as prescribed under income tax regulations.

This development represents a routine tax matter that the company expects to resolve through the established appellate process, maintaining confidence in the legitimacy of its business transactions and accounting practices.