Prism Johnson Limited has achieved a significant victory in its ongoing tax litigation, with the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) ruling in favor of the company on January 10, 2025. The tribunal set aside a substantial tax demand of Rs.34.10 crores, including penalties of Rs.26.40 crores, that had been raised by the Commissioner CGST & Central Excise, Jabalpur against the company and its employees.

CESTAT Ruling Details

The appellate tribunal's decision was comprehensive, addressing both the primary demand and associated penalties. The CESTAT ruled that the entire demand was time-barred, effectively nullifying the tax authorities' claims. Additionally, the tribunal set aside all penalties imposed on both the company and its employees in their entirety.

High Court Appeal Process

Despite the favorable CESTAT ruling, the tax dispute has entered a new phase. The Commissioner CGST & Central Excise, Jabalpur, filed an appeal with the Hon'ble High Court of Madhya Pradesh, Principal Seat at Jabalpur on July 21, 2025, challenging the tribunal's decision. The High Court has admitted the appeal and issued a notice dated January 12, 2026, which was served to Prism Johnson and other respondents on January 23, 2026.

Upcoming Legal Proceedings

The legal timeline for this case continues to progress with specific milestones established by the court system.

Company's Position and Outlook

Prism Johnson has maintained a confident stance regarding the litigation outcome. The company has stated that it remains hopeful of a favorable outcome in the High Court proceedings and does not reasonably expect any material financial impact from this ongoing legal matter. This disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as part of the company's commitment to transparency with stakeholders.

The case represents a continuation of tax litigation that has been ongoing since the original disclosure made by the company on August 14, 2023. Regular updates on this and other tax litigations have been provided through the company's Integrated Governance Reports, demonstrating consistent communication with investors and regulatory authorities regarding material legal developments.

Prism Johnson Limited has announced significant changes in its senior management structure, with new appointments taking effect from January 1, 2026. The company disclosed these changes to stock exchanges on December 31, 2025, in compliance with regulatory requirements.

Management Transition Details

The Board of Directors, based on recommendations from the Nomination and Remuneration Committee, has designated Mr. Anil Madlani as Senior Management Personnel within the meaning of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. This appointment comes as Mr. Rajshekhar Shettar ceased to be Senior Management Personnel after reaching superannuation age.

Profile of New Appointee

Mr. Anil Madlani, aged 51 years, brings extensive experience to his new role as Senior Management Personnel. He is a seasoned Operations and Procurement professional with over 29 years of experience specifically in the cement and building materials industry.

Educational Background and Experience

Mr. Madlani holds an MBA from Indira Gandhi Open University and a BE in Industrial from L.E. College, Saurashtra University, Morbi. His career spans leadership positions across several reputed organizations in the cement sector.

Professional Expertise

Mr. Madlani's professional expertise encompasses multiple critical areas of cement industry operations. His experience includes:

• Operations management and optimization
• Procurement and supply chain functions
• Commercial operations oversight
• Cost optimization initiatives
• Operational efficiency enhancement
• Sustainability initiatives implementation

At Orient Cement Limited in Hyderabad, he served as Vice President & Head – Central Procurement, where he oversaw both central and capital project procurement activities. His role involved managing procurement operations with significant financial responsibility, handling an annual spend of approximately ₹1,800.00 crore.

Regulatory Compliance

The appointment follows proper corporate governance procedures, with the Board of Directors making the decision through a circular resolution passed on December 31, 2025. The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring transparency in senior management changes.