Aditya Birla Capital Limited has successfully obtained regulatory approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company-Investment and Credit Company (NBFC-ICC), marking a significant milestone in the company's regulatory framework transformation.

RBI Certificate of Registration Received

The company announced on December 11, 2025, that it has received the Certificate of Registration dated December 9, 2025, from RBI as an NBFC-ICC. This approval formalizes the company's conversion from its previous status as a Non-Banking Financial Company-Core Investment Company (NBFC-CIC) to the new NBFC-ICC category.

Background of the Conversion

The regulatory conversion stems from the Scheme of Amalgamation of Aditya Birla Finance Limited (ABFL) with Aditya Birla Capital Limited, which became effective on April 1, 2025. Following this amalgamation, the Certificate of Registration held by ABFL as NBFC-CIC was cancelled, necessitating the company's application for NBFC-ICC status.

During the interim period, the company had been operating as an NBFC-ICC based on the no-objection letter received from RBI for the amalgamation scheme. The company maintained compliance with all guidelines applicable to NBFC-ICC operations throughout this transition period.

Regulatory Compliance and Impact

The conversion to NBFC-ICC status allows Aditya Birla Capital to continue its financial services operations under the appropriate regulatory framework. The company had previously informed stock exchanges about the effectiveness of the amalgamation scheme on April 1, 2025, and has now completed all necessary regulatory formalities.

The company has fulfilled all disclosure requirements under Regulation 30 of the SEBI Listing Regulations, ensuring transparency with stakeholders regarding this important regulatory development. This approval provides regulatory certainty and enables the company to operate with full authorization under the NBFC-ICC framework.

Aditya Birla Capital Limited has secured a significant victory in a tax litigation matter involving its material subsidiary, with the Income Tax Appellate Tribunal (ITAT) dismissing the Income Tax Department's appeal against a favorable ruling.

Tax Litigation Background

The case pertains to Aditya Birla Sun Life Insurance Company Limited (ABSLI), a material subsidiary of Aditya Birla Capital. Earlier, the Deputy Commissioner of Income Tax had issued an Order Giving Effect (OGE) dated July 2, 2025, which nullified an entire tax demand pursuant to an order passed by the CIT(A).

ITAT Ruling and Timeline

Following the nullification of the tax demand, the Income Tax Department filed an appeal against the said order before the Income Tax Appellate Tribunal. However, the tribunal has now ruled in favor of the company and its subsidiary.

The key timeline of recent developments includes:

• ITAT Order Date: December 2, 2025
• Company Receipt: December 10, 2025
• Outcome: Department's appeal dismissed

Regulatory Compliance

Aditya Birla Capital has informed the stock exchanges about this development in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This update follows the company's earlier intimation filed on August 12, 2025, regarding the initial tax litigation matter.

Significance of the Ruling

The ITAT's decision to dismiss the Income Tax Department's appeal confirms the earlier favorable ruling that nullified the substantial tax demand of ₹2,123.62 crores against ABSLI. This outcome provides clarity on the tax position and removes the uncertainty that had been hanging over the subsidiary regarding this significant demand.

The resolution of this tax litigation matter represents a positive development for Aditya Birla Capital and its subsidiary, eliminating a potential financial liability and providing greater certainty for the company's operations moving forward.