Standard Glass Lining Technology Limited, now known as Standard Engineering Technology Limited, has received an income tax assessment order imposing a demand of ₹1,64,96,940.00 for the financial year 2019-20. The company disclosed this development to stock exchanges on January 13, 2026, in compliance with SEBI regulations.

Assessment Order Details

The income tax demand stems from an assessment order passed under the provisions of the Income Tax Act 1961. The company received the communication on January 12, 2026, from the Assessment Unit of the Income Tax Department.

Company's Position on Assessment

Standard Engineering Technology has maintained its stance regarding the legitimacy of the questioned transactions. During FY 2019-20, the company received a notice regarding certain sales transactions that were subsequently reviewed by Income Tax authorities.

The company's key arguments include:

• All transactions were genuine and legitimate
• Complete recording in books of accounts
• Proper reporting in GST returns
• Settlement through banking channels with no cash involvement
• Full transparency in accounting and reporting practices

Financial and Operational Impact

According to the company's disclosure, there is no expected financial or operational implication on the listed entity. The management has indicated confidence in the correctness of its accounting practices and transaction reporting.

Next Steps and Legal Recourse

Standard Engineering Technology has outlined its response strategy to address the assessment order. The company plans to file the necessary appeal with the appellate authority within the permissible timeline as prescribed under income tax regulations.

This development represents a routine tax matter that the company expects to resolve through the established appellate process, maintaining confidence in the legitimacy of its business transactions and accounting practices.

Standard glass lining technology (formerly known as Standard Glass Lining Technology Limited) disclosed a share pledge transaction by one of its promoters under regulatory compliance requirements. The company filed the disclosure on January 12, 2016, with both BSE Limited and National Stock Exchange of India Limited, where its shares are listed under scrip code 544333 and symbol SGLTL respectively.

Share Pledge Details

Promoter Katragadda Venkata Ramani created a pledge on 9,41,124 equity shares of the company on January 09, 2016. The pledged shares represent 0.44% of the total share capital and were encumbered in favor of SMEq India Credit Co. Ltd.

Financial Terms and Security Cover

The pledge arrangement involves a borrowing amount of ₹10.00 crores against the encumbered shares. The value of pledged shares on the date of the agreement was ₹13.12 crores, providing a security cover ratio of 1.31 times the borrowed amount.

Promoter Holdings and Impact

The promoter's total shareholding in Standard Engineering Technology Limited stands at 15,00,000 shares, representing 0.75% of the company's total share capital. The encumbered shares constitute 0.78% of the promoter's total shareholding in the company.

Purpose and Utilization

The promoter explicitly stated that the borrowing proceeds are intended for personal use and will not benefit the listed company or its subsidiaries. The disclosure confirms that no funds from this borrowing arrangement are proposed to be utilized by Standard Engineering Technology Limited or any of its group companies. This pledge creation falls under the category of personal borrowing and does not involve any debt instruments such as debentures, commercial papers, or certificates of deposit.