Laxmi India Finance Limited has successfully resolved an income tax compounding case related to the financial year 2016-17. The company paid ₹3.33 lakh in compounding charges to settle an offence under Section 276B read with Section 278B of the Income Tax Act.

Key Details of the Settlement

Implications and Company Statement

The Principal Chief Commissioner of Income Tax (PCCIT), Rajasthan, has compounded the offence and instructed the Assessing Officer and CIT (TDS), Jaipur, to take necessary action. Laxmi India Finance has stated that there are no further financial implications resulting from this settlement. The company emphasized that no additional penalties, restrictions, or sanctions have been imposed following the resolution of this case.

Regulatory Compliance

In compliance with regulatory requirements, Laxmi India Finance Limited has duly informed the stock exchanges about this development. The company filed the necessary disclosures under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The resolution of this case demonstrates the company's commitment to addressing regulatory matters promptly and transparently. By settling the compounding case, Laxmi India Finance has taken a step towards maintaining good standing with tax authorities and ensuring compliance with income tax regulations.

Laxmi India Finance Limited (LIFL) has announced the resignation of its Chief Technology Officer (CTO), Siddharth Modi, effective October 14, 2025. The company disclosed this information in a regulatory filing on October 15, 2025, in compliance with SEBI regulations.

Key Details of the Resignation

Regulatory Compliance

LIFL made this disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided the necessary details as required by SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company's Statement

In his resignation letter, Modi expressed gratitude to the management and Board of Directors of Laxmi India Finance Limited for their support during his tenure. The company acknowledged his contributions and has initiated the process of transition as per standard corporate procedures.

Impact and Next Steps

While the departure of a senior executive like the CTO can potentially impact a company's technological strategy, LIFL has not provided any immediate information regarding a successor or interim arrangements.

The resignation of a key executive often prompts questions about the company's future direction and stability. However, it's important to note that executive changes are a normal part of corporate evolution, and the impact can only be assessed over time.

Investors are advised to monitor any further announcements from the company regarding its technology leadership and strategy going forward.