Urja Global 's subsidiary, Sahu Minerals and Properties Limited, has secured a favorable ruling from the Commissioner of Income Tax (Appeals) in a significant tax case. The CIT(A) has deleted a Rs. 42.90 crore addition made under Section 56(2)(viib) of the Income Tax Act, which was related to alleged excess share premium.

Key Details of the Tax Appeal

Valuation Dispute and Resolution

The crux of the dispute centered around the valuation of shares. The company's share valuation of Rs. 550 per share was initially questioned by the Assessing Officer (AO). However, a subsequent report from the District Valuation Officer (DVO) supported the company's property-based valuation.

• The DVO's valuation amounted to Rs. 22.55 crore
• This valuation matched the assessee's property-based valuation
• The CIT(A) relied on the DVO report and directions from the Income Tax Appellate Tribunal (ITAT)

Based on these findings, the CIT(A) concluded that the share valuation was justified and partially allowed the appeal, effectively deleting the Rs. 42.90 crore addition.

Impact on Urja Global

According to the disclosure made by Urja Global Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company stated that there is no material impact on its financials, operations, or other activities as a result of this ruling.

This favorable decision for Sahu Minerals and Properties Limited, and by extension for Urja Global, underscores the importance of proper valuation methodologies in tax-related matters. It also highlights the role of regulatory bodies in resolving disputes between taxpayers and tax authorities, especially in cases involving complex financial transactions such as share premium valuations.

Urja Global Limited , a key player in the renewable energy sector, has announced a significant change in its corporate governance structure. The company's Board of Directors, in a meeting held on October 15, 2025, approved the reconstitution of its Audit Committee, signaling a commitment to enhanced oversight and transparency.

New Leadership at the Helm

The reconstituted Audit Committee sees Mr. Mukul Jain stepping into the role of Chairperson. Mr. Jain, who serves as a Non-Executive Independent Director, brings a fresh perspective to this crucial oversight body.

Committee Composition

The newly formed Audit Committee comprises a blend of executive and non-executive members:

This diverse composition aims to ensure a balance of independent oversight and operational insight within the committee.

Implications for Corporate Governance

The reconstitution of the Audit Committee is a significant move that could potentially strengthen Urja Global's financial oversight and risk management processes. By including both independent and executive directors, the company appears to be striving for a well-rounded approach to auditing and financial governance.

Looking Ahead

As Urja Global Limited continues to navigate the dynamic renewable energy sector, this restructuring of the Audit Committee may play a crucial role in maintaining investor confidence and ensuring robust financial practices. Stakeholders will likely be watching closely to see how this change impacts the company's financial reporting and overall governance in the coming months.

The company's proactive approach to updating its governance structure aligns with best practices in corporate management and could potentially enhance its standing in the eyes of investors and regulatory bodies alike.