Hatsun agro product Limited has received an income tax assessment order for Assessment Year 2024-25, raising a demand of ₹2.89 crores. The company disclosed this development to the stock exchanges under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Assessment Order Details

The income tax assessment order was passed by the Assessment Unit, Income Tax Department under section 143(3) read with section 156 of the Income Tax Act, 1961. The company received the order on 9th March 2026 at 16:35 hours.

Company Response

Hatsun Agro Product Limited has indicated that it is in the process of preferring an appeal against the assessment order. The company made the disclosure through a communication signed by C Subramaniam, Company Secretary and Compliance Officer, dated 10th March 2026.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI Listing Regulations. The company provided detailed information about the assessment order as required under the regulatory framework, including the nature of the order, date of receipt, and financial impact.

The assessment order represents a significant development for the dairy and food products company, which operates various brands including Arun Ice Creams, Hatsun, and Ibaco. The company's decision to appeal the order indicates its intention to contest the tax demand through appropriate legal channels.

Hatsun Agro Product Limited has announced the sad and untimely demise of Mr. V R Muthu, Independent Director of the company, on March 4, 2026. The company informed both BSE and NSE about this development in compliance with regulatory requirements under SEBI Listing Regulations.

Board Leadership Changes

Mr. V R Muthu, who held Director Identification Number (DIN) 01908841, served as an Independent Director on the company's board. His sudden passing has been described by the company as an "irreparable loss." The board of directors and employees have conveyed their deep sympathy, sorrow, and condolences to his family during this difficult time.

Committee Memberships Affected

The director's demise has resulted in changes to the composition of several key board committees. Mr. Muthu was an active member of multiple important committees that oversee critical aspects of corporate governance.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was made in accordance with Part A of Schedule III to the SEBI Listing Regulations and the SEBI Master Circular dated January 30, 2026.

Corporate Communication

The formal intimation was signed by C Sathyan, Vice Chairman of Hatsun Agro Product Limited, who holds DIN 00012439. The communication was digitally signed and submitted to both stock exchanges on the same day as the unfortunate incident. The company has requested the exchanges to take this information on record and ensure appropriate dissemination to stakeholders.

This development marks a significant change in the board composition of the dairy products company, particularly affecting the oversight functions of key committees responsible for audit, remuneration, and stakeholder relations.