H.G. Infra Engineering Limited has received a significant income tax demand notice from the Income Tax Department, marking another development in an ongoing tax assessment matter for the assessment year 2018-19.

Tax Demand Details

The company received the demand notice on January 06, 2026, under Section 154 of the Income Tax Act, 1961. The notice follows an earlier assessment order under Section 143(3) that the company had previously disclosed to stock exchanges in March 2025.

Company's Position and Response

H.G. Infra Engineering has strongly contested the tax department's action, stating that the order is entirely contrary to principles of natural justice and lacks factual authenticity. The company emphasized that relevant details were presented before the Assessing Officer during the assessment proceedings.

The infrastructure company has outlined its legal strategy to challenge the demand:

• Already filed an appeal against the original assessment order under Section 143(3)
• Plans to file an appeal against this demand notice before appellate authorities
• Expects a favorable outcome based on the merits of the matter and prevailing law
• Has engaged legal counsel for the proceedings

Financial and Operational Impact

The company has clarified that there is no immediate impact on its financial position, operations, or other business activities due to this demand notice. H.G. Infra Engineering maintains confidence in its position and expects to successfully contest the demand through the appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulations 30 & 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has committed to informing stock exchanges of any material developments in this matter as required under Regulation 30(7) of the SEBI Listing Regulations.

The notice was signed by Ankita Mehra, Company Secretary & Compliance Officer, and submitted to both BSE Limited and National Stock Exchange of India Limited for regulatory compliance.

Vishnu Prakash R Punglia Limited has disclosed comprehensive details of share encumbrance transactions involving promoter Manohar Lal Punglia under Regulation 31 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company reported multiple pledge creation and release events affecting the promoter's shareholding pattern.

Promoter Shareholding Overview

Manohar Lal Punglia holds a total of 82,20,000 shares in the company, representing 6.59% of the total share capital. The recent disclosures cover various encumbrance activities that occurred between December 24, 2025, and December 31, 2025.

Share Pledge Transactions

The promoter executed several pledge creation transactions during the reporting period. The largest pledge involved 10,00,000 shares (0.80% of share capital) with HDFC Bank Limited on December 24, 2025, intended for liquidity generation and fund infusion into the company.

Share Release Activities

Significant pledge releases occurred on December 31, 2025, primarily involving Nidhi Castings And Alloys Private Limited. The releases totaled 10,00,222 shares across multiple transactions, all attributed to loan closures.

Current Encumbrance Position

Following all transactions, the promoter's encumbered shareholding stands at 58,30,000 shares, representing 4.68% of the total share capital. This reflects a net reduction in pledged shares despite new pledge creations, primarily due to substantial releases from loan closures.

Regulatory Compliance

The disclosure was filed from Jodhpur on January 05, 2026, in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. The comprehensive reporting covers all required details including transaction dates, counterparty entities, and specific reasons for each encumbrance activity.