Protean eGov Technologies Limited has disclosed receiving significant tax demand orders from Maharashtra tax authorities, totaling over ₹22.60 crores across two separate proceedings related to its PAN services operations during 2015-16.

Tax Demand Details

The company received Order-in-Appeal from the Deputy Commissioner of Sales Tax (Appeals), Nodal Division-04, Mumbai on March 9, 2026, under two distinct Acts covering the same assessment period.

*Tax amount calculated as Total - Interest - Penalty

Background and Legal Proceedings

Both appeal orders stem from original assessment orders dated April 5, 2017, which examined the nature and scope of PAN services rendered by the company during 2015-16. The Maharashtra Sales Tax Tribunal had previously remanded the matter back to the First Appellate Authority (Deputy Commissioner of Sales Tax Appeals) through an order dated January 24, 2022.

The current orders were issued under Section 26(5) of the Maharashtra Value Added Tax Act, 2002, with the second order additionally invoking provisions of the Central Sales Tax Act, 1956.

Company's Response and Impact Assessment

Protean eGov Technologies has indicated that it considers the demands not maintainable based on its assessment. The company is currently evaluating all available options, including filing appeals against both orders.

Key Company Positions:

• The tax demands are not maintainable according to company's assessment
• All legal options including appeals are being evaluated
• No material impact expected on financials, operations, or other activities
• Company maintains confidence in its position regarding the disputed assessments

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding material developments that could potentially impact the company's operations.

Protean eGov Technologies Limited has successfully concluded its postal ballot process, with shareholders approving two key board appointments through special resolutions. The company informed stock exchanges on March 10, 2026, that both resolutions were passed with requisite majority, marking important developments in its leadership structure.

Postal Ballot Process and Timeline

The postal ballot process was conducted entirely through e-voting, with the notice dated February 03, 2026. The company dispatched the postal ballot notice on February 05, 2026, to 2,21,511 members who had registered their email addresses with the company, depositories, or registrar and transfer agent.

The company published advertisements regarding the postal ballot on February 06, 2026, in Financial Express (English) and Loksatta (Marathi) newspapers, ensuring widespread awareness among stakeholders.

Board Appointment Results

Both resolutions received strong shareholder support, demonstrating confidence in the proposed appointments. The scrutinizer CS S. N. Viswanathan from S. N. Ananthasubramanian & Co. validated all votes as legitimate and confirmed that both special resolutions were passed with requisite majority.

Resolution 1: Ms. Aruna Rao's Re-appointment

The resolution for re-appointing Ms. Aruna Rao (DIN: 06986715) as Independent Director for a second term of three years was classified as a special resolution and received overwhelming approval.

Resolution 2: Mr. V Easwaran's Appointment

The appointment of Mr. V Easwaran (DIN: 08055728) as Director and Whole-time Director also secured strong shareholder approval, with an even higher percentage of support.

Regulatory Compliance and Documentation

The postal ballot was conducted in compliance with Section 110 of the Companies Act, 2013, and SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The scrutinizer's report dated March 10, 2026, confirmed that all procedural requirements were met and votes were properly validated.

The voting results and scrutinizer's report are available on the company's website at www.proteantech.in and NSDL's e-voting platform at www.evoting.nsdl.com , ensuring transparency and accessibility for all stakeholders. The company has also informed BSE Limited (Scrip Code: 544021) and National Stock Exchange of India Limited (Trading Symbol: PROTEAN) about the successful completion of the postal ballot process.