Arman Holdings Limited has disclosed a substantial acquisition transaction involving the sale of equity shares by a promoter group member, as per regulatory filing submitted to BSE on December 19, 2025. The disclosure was made in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The transaction involved the sale of 12,855 equity shares by Sapana Kalpesh Gada, a member of the promoter group acting in concert with primary acquirer Arun Damji Gada. The shares were sold through open market on November 13, 2025.

Impact on Promoter Group Holding

The sale resulted in a reduction of the overall promoter group holding in Arman Holdings Limited. The transaction decreased Sapana Kalpesh Gada's individual holding from 0.90% to 0.65%, representing a reduction of 0.25%.

Promoter Group Composition

The promoter group consists of 14 members acting in concert, including Arun Damji Gada as the primary acquirer. The detailed holding structure shows significant members including:

Company Share Capital Structure

Arman Holdings Limited's equity share capital remained unchanged following the transaction. The company maintains a total equity share capital of ₹5.21 crores, comprising 52,10,500 equity shares with a face value of ₹10.00 each.

The disclosure confirms that no other members of the promoter group participated in any transactions during this period, with only Sapana Kalpesh Gada executing the sale of 12,855 shares through open market mechanism.

Arman Holdings Limited has received a show cause notice from the Income Tax Department under section 263 of the Income Tax Act, 1961 for Assessment Year 2017-18. The company disclosed this development to BSE on December 20, 2025, in compliance with regulatory requirements under Regulation 30 of SEBI Listing Regulations.

Notice Details and Allegations

The show cause notice was issued by the Office of the Principal Commissioner of Income Tax (PCIT), Income Tax Department, Delhi-1. The notice pertains to revision proceedings under section 263, with the department alleging that the assessment was completed by passing an order under section 147 read with section 144B on May 26, 2023, which is prima facie erroneous.

Company's Position and Response

Arman Holdings has stated that it does not agree with the show cause notice and will take appropriate actions for rectification or reversal of the same. The company has indicated that the maximum financial impact would be to the extent of tax demand, interest, and penalty levied, if any, by the Income Tax Department.

Disclosure Timeline and Explanation

The company explained the delay in disclosure, stating that the notice involved technical tax analysis, review, and opinion by income tax experts. The management wanted to avoid any premature or incomplete announcement that could result in ambiguity or misinterpretation before investors, stakeholders, or regulatory agencies.

Regulatory Compliance

This disclosure was made pursuant to the provisions of Regulation 30 read with Para A, Part A, Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has requested BSE to take this information on record as part of its ongoing compliance obligations.