Diligent Media Corporation Limited has announced the resignation of its Chief Executive Officer, Mr. Chitresh Sehgal, effective March 12, 2026. The company disclosed this development to stock exchanges in compliance with regulatory requirements, marking the end of Sehgal's nearly five-year tenure with the organization.

Regulatory Disclosure Details

The company filed the disclosure under Regulation 30 read with Schedule III of the Listing (Obligations and Disclosure Requirements) Regulations, 2015, informing both the National Stock Exchange of India Limited and BSE Limited about the leadership change.

Reason for Departure

According to the resignation letter submitted by Mr. Sehgal, he is leaving the company to pursue career interests outside the organization. The resignation letter, dated January 12, 2026, was addressed to the Board of Directors and served as official notification of his decision to step down from the CEO position.

Tenure and Acknowledgment

In his resignation communication, Sehgal expressed appreciation for the support and opportunities provided during his tenure. He specifically mentioned his gratitude to the organization and the Board for the constant support and growth opportunities throughout his nearly five-year stint with the company.

Compliance and Documentation

The disclosure was signed by Jyoti Upadhyay, Company Secretary and Compliance Officer, ensuring proper regulatory compliance. The company provided comprehensive documentation including the formal disclosure letter and Sehgal's resignation letter as required under the listing regulations.

Corporate Communication

The announcement was made through official channels to both major stock exchanges, with the company requesting that the information be taken on record. This formal communication ensures transparency and adherence to corporate governance standards for listed companies in India.

Diligent Media Corporation Limited has informed investors about a significant development regarding a GST demand case that has been ongoing since April 2024. The company faces a substantial tax demand from the Goods and Services Tax Department, with implications for its financial obligations and legal proceedings.

GST Demand Details

The GST Department demand stems from alleged undeclared turnover of Pri-Media Services Pvt. Ltd., an erstwhile entity that was merged with Diligent Media Corporation. The demand covers the period from April 2018 to March 2019.

Recent Developments

Following the initial demand order received in April 2024, Diligent Media Corporation had filed an application for rectification of the demand order before the GST Department. However, the company has now received a response from the GST Department directing compliance with the original demand raised.

The GST Department's rejection of the rectification application represents a setback for the company's efforts to resolve the matter through administrative channels. This development necessitates the company to explore alternative legal remedies.

Company's Response Strategy

In response to the GST Department's directive, Diligent Media Corporation has outlined its next course of action:

• Legal Consultation: The company is currently in the process of seeking legal opinion on the matter
• Appellate Challenge: The company intends to challenge the demand before the appropriate appellate authority
• Due Process: The challenge will be filed in due course following proper legal procedures

Regulatory Compliance

The update has been provided under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the Listing Regulations. This disclosure ensures transparency with stakeholders regarding material developments that could impact the company's operations and financial position.

The company secretary and compliance officer, Jyoti Upadhyay, has signed the disclosure document, maintaining the company's commitment to regulatory compliance and investor communication standards.