Arrow Greentech Limited has received patent approval from Sri Lanka for its security laminates technology, marking a significant milestone in the company's intellectual property development.

Patent Approval Details

The patent approval covers Arrow Greentech's security laminates technology in Sri Lanka. This development represents an important step in protecting the company's innovative solutions in the security laminates segment.

Strategic Significance

The patent approval strengthens Arrow Greentech's intellectual property portfolio and provides legal protection for its security laminate innovations in the Sri Lankan market. This recognition validates the company's technological capabilities and research and development efforts in the security laminates domain.

The patent grant positions Arrow Greentech to leverage its proprietary technology in Sri Lanka while maintaining competitive advantages through intellectual property protection. This development supports the company's expansion strategy in international markets and reinforces its commitment to innovation in security solutions.

Arrow Greentech Ltd has informed stock exchanges about receiving a significant income tax demand order, marking a regulatory development that requires mandatory disclosure under SEBI listing regulations.

Income Tax Demand Details

The company disclosed receiving a demand order for outstanding liabilities worth ₹6.03 crores from the Commissioner of Income Tax, Mumbai. The demand pertains to assessment year 2017-18 and follows the dismissal of the company's appeal with the Commissioner of Income Tax (Appeal).

Nature of Tax Dispute

The demand order stems from disallowances of certain expenditure and deductions claimed by Arrow Greentech under various provisions of the Income Tax Act. The company's initial appeal to the Commissioner of Income Tax (Appeal) was dismissed, leading to the current demand for payment of outstanding liabilities.

Company's Response and Impact Assessment

Arrow Greentech has stated that the demand notice will not materially impact its financials, operations, or other business activities. The company has taken proactive steps to address the matter through legal channels.

The company's response includes:

• Filing an appeal with the Income Tax Appellate Tribunal (ITAT) against the order
• Submitting a letter to the Commissioner of Income Tax requesting to hold recovery proceedings
• Seeking suspension of recovery until the outcome of ITAT proceedings

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Poonam Bansal signed the regulatory filing, ensuring compliance with mandatory disclosure requirements for listed entities facing significant tax demands.