Devanshi Jalan, a member of Linc Limited's promoter group, has reduced her shareholding in the company through an inter-se transfer of equity shares. The transaction was disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011.

Transaction Details

The share disposal transaction involved the following key parameters:

Shareholding Changes

The inter-se transfer has resulted in a marginal reduction in Devanshi Jalan's stake in Linc Limited:

Company Share Capital Structure

Linc Limited's equity share capital remained unchanged following this transaction. The company's total equity share capital stands at 5,94,89,164 shares both before and after the disposal. The total diluted share capital also remains at the same level, indicating no impact from convertible securities or warrants.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. The information was formally communicated to all three stock exchanges where Linc Limited's shares are listed:

• BSE Limited (Scrip Code: 531241)
• National Stock Exchange of India Ltd. (Symbol: LINC)
• The Calcutta Stock Exchange Ltd. (Scrip Code: 022035)

The transaction represents a routine inter-se transfer within the promoter group, with Devanshi Jalan maintaining her status as a promoter group member despite the reduced shareholding percentage.

Life Insurance Corporation of India has received a substantial tax order from regulatory authorities, creating significant financial implications for the insurance behemoth. The order represents one of the major tax-related developments affecting the company's financial position.

Tax Order Details

The tax authorities have issued a comprehensive order against LIC with multiple financial components that substantially increase the total liability beyond the base tax demand.

Financial Impact Analysis

The tax order carries significant financial implications for LIC, with the interest component representing the largest portion of the total demand. The interest charges of ₹8.50 crores substantially exceed both the primary tax demand and penalty amount, indicating either a prolonged dispute period or substantial underlying tax liability calculations.

The penalty amount matches the primary tax demand at ₹1.38 crores each, suggesting potential non-compliance issues that triggered both the original tax liability and corresponding penalty provisions. This structure typically indicates serious tax assessment concerns from the regulatory perspective.

Regulatory Implications

The substantial nature of this tax order, particularly the high interest component relative to the base demand, highlights the complexity of tax compliance for large financial institutions like LIC. The total demand of ₹11.26 crores represents a significant regulatory challenge that will require careful legal and financial management.

The insurance giant will need to evaluate its options regarding this tax order, which may include compliance, appeal procedures, or settlement negotiations with tax authorities. The resolution of this matter will be crucial for LIC's financial planning and regulatory standing in the insurance sector.