Sarla Performance Fibers Limited has disclosed receiving a rectification order from the income tax department that has resulted in a significant tax demand. The company informed stock exchanges about this development under regulatory disclosure requirements on January 13, 2026.

Tax Authority Action Details

The Deputy Commissioner of Income-tax, Circle 3(3)(1), Mumbai, issued a rectification order under Section 154 of the Income-tax Act, 1961, for assessment year 2018-19. The order was dated January 07, 2026, and the company received email intimation on January 13, 2026.

Financial Impact and Revised Assessment

The rectification order has revised the company's total income for the assessment year to ₹50,22,01,570.00. This revision stems from correcting a mistake in the previous assessment where an adjustment of ₹13,09,400.00 was not incorporated.

Company's Response and Legal Action

Sarla Performance Fibers Limited has taken proactive legal action in response to the tax demand. The company has already filed an appeal before the Hon'ble Income Tax Appellate Tribunal (ITAT), Mumbai. The appeal is currently pending before the tribunal.

The company has clarified that this rectification order addresses a mistake apparent from the record in the previous assessment rather than any violation or contravention. Management has stated that there is no impact on the company's operations despite the financial demand.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Para A (20) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/2024/152 dated November 11, 2024. The company secretary and compliance officer Mustafa Manasawala signed the disclosure document.

Sarla Performance Fibers Limited , a prominent player in the performance fibers industry, has announced a significant change in its corporate structure. The company's Board of Directors has approved the appointment of CS Mustafa Manasawala (ACS: 76344) as the new Company Secretary and Compliance Officer, effective November 11, 2025.

Key Appointment Details

Professional Background

Mustafa Manasawala brings a wealth of experience to his new role at Sarla Performance Fibers. His profile includes:

• Over 4 years of experience in corporate law compliance, SEBI regulations, and governance for both listed and unlisted entities
• Expertise in SEBI LODR filings, Companies Act requirements, and corporate actions including buybacks, rights issues, and mergers
• Proficiency in legal drafting and regulatory filings across MCA, RBI, and FEMA
• Experience in supporting NCLT proceedings and secretarial audits

Educational Qualifications

The appointment of Manasawala aligns with the provisions of Section 203 of the Companies Act, 2013, and Regulation 6 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that Manasawala has no relationship with the promoters or directors of Sarla Performance Fibers Limited, ensuring independence in his role.

This strategic appointment comes as part of the company's commitment to maintaining robust corporate governance and ensuring compliance with regulatory requirements. Manasawala's diverse experience in corporate law and governance is expected to contribute significantly to Sarla Performance Fibers' ongoing efforts to uphold the highest standards of corporate practices.

The Board meeting that approved this appointment commenced at 01:00 p.m. and concluded at 02:27 p.m. on November 11, 2025. This information has been disclosed in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating the company's adherence to transparency and regulatory compliance.

Sarla Performance Fibers Limited's decision to bring Mustafa Manasawala on board reflects its focus on strengthening its corporate governance framework and ensuring efficient management of its secretarial and compliance functions.