Rail Vikas Nigam Limited (RVNL) has now received four demand notices from tax authorities across different jurisdictions, with the latest being a ₹4.26 lakh notice from Hyderabad. The Government of India enterprise has informed stock exchanges about these regulatory developments as part of its compliance obligations under SEBI regulations, bringing the total demand notices to ₹9.41 crores.

Latest Hyderabad Demand Notice

RVNL received the most recent demand notice from the Office of the Deputy Commissioner Jurisdiction BEGUMPET STU3, Telangana State, Hyderabad. This notice pertains to FY 2021-22 and represents the smallest individual demand amount among all notices received.

Previous Demand Notices

Prior to the Hyderabad notice, RVNL had received three other demand notices. The largest was a ₹5.56 crore notice from Ahmedabad on December 23, 2025, followed by a ₹3.64 crore notice from Bengaluru and a ₹17.13 lakh service tax demand from Chennai, both received on December 22, 2025.

Regulatory Compliance and Disclosure

RVNL disclosed this information to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure follows the declaration requirements as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company's Response and Impact Assessment

The company has assessed the impact of these demand notices on its operations and financial position. RVNL maintains that there is no material impact on financial, operational, or other activities of the company due to these orders.

The company emphasized that these orders are challengeable and indicated that the orders are being examined for further appropriate action. RVNL will pursue appeals with the appropriate appellate authorities to challenge all tax demands, following standard procedures for such regulatory matters.

Rail Vikas Nigam Limited (RVNL), a Government of India Enterprise, has secured a significant contract from Southern Railway, further solidifying its position in the railway infrastructure sector. The company received a Letter of Acceptance (LOA) for a project valued at Rs 145.35 crore, focusing on enhancing the traction and power systems in the Jolarpettai Junction-Salem Junction section.

Project Details

Strategic Importance

The project is part of Southern Railway's mission to achieve a 3000MT loading target, indicating its significance in enhancing the railway's operational capacity. The implementation of advanced traction substations and power quality equipment is expected to improve the efficiency and reliability of the electric traction system in this crucial section.

Company Disclosure

RVNL has made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that this work is in the normal course of its business operations.

Market Implications

While the immediate financial impact of this contract on RVNL's overall revenue may be limited, it demonstrates the company's continued ability to secure significant projects in the railway sector. This contract could potentially lead to improved order book strength and future revenue visibility for RVNL.

Investors and market watchers may view this development as a positive indicator of RVNL's operational performance and its strategic position within India's ongoing railway infrastructure modernization efforts.