Sterling Tools Limited has officially confirmed the resignation of Chief Financial Officer Pankaj Gupta, who ceased to hold his position as Key Managerial Personnel effective December 31, 2025. The company filed the final regulatory disclosure with both NSE and BSE, marking the completion of his departure process.

Official Confirmation and Regulatory Filing

The company submitted its final intimation to the National Stock Exchange of India Limited and BSE Limited on December 31, 2025, confirming that Gupta has ceased to be the Chief Financial Officer with effect from the closure of business hours on December 31, 2025. This follows the initial disclosure made on December 15, 2025, when the resignation was first announced.

Resignation Letter Details

In his resignation letter dated December 15, 2025, addressed to Managing Director Atul Aggarwal, Gupta formally submitted his resignation from the position of Group Chief Financial Officer. He cited his decision to pursue other professional opportunities aligned with his long-term career goals, confirming that there are no other material reasons for his resignation.

Tenure and Transition

Gupta expressed gratitude for the trust and support extended to him during his approximately 5-year tenure with the organization. He assured the management of ensuring a smooth transition process and confirmed his availability to assist as required during the handover period. The last working day was mutually decided as December 31, 2025.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 and Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Company Secretary and Compliance Officer Komal Malik digitally signed the regulatory filings, confirming the authenticity of the information provided to both stock exchanges.

Sterling Tools Ltd. , a prominent player in the automotive fastener industry, has received a favorable resolution to its GST proceedings. The company disclosed that the Principal Commissioner, CGST Commissionerate, Dehradun has concluded proceedings with the tax demand dropped entirely and only minor penalties confirmed.

Favorable Resolution of GST Proceedings

The company received an order dated December 29, 2025, from the Office of the Principal Commissioner, CGST Commissionerate, Dehradun, concluding proceedings that originated from a show cause notice dated June 25, 2025. The resolution represents a significant positive development for the automotive component manufacturer.

Breakdown of Final Settlement

The order delivered three key outcomes that demonstrate a largely favorable resolution for Sterling Tools:

Tax Demand Dropped: The entire tax demand of ₹97.78 crores has been dropped, eliminating what could have been a substantial financial burden on the company.

Interest Recovery: A minimal interest recovery of ₹1.60 lakh has been ordered, comprising ₹79,853 under CGST and ₹79,853 under SGST.

Penalty Confirmation: The authorities confirmed a penalty aggregating to ₹68,625, broken down as ₹18,625 under IGST, ₹25,000 under CGST, and ₹25,000 under SGST.

Financial Impact Assessment

The resolution significantly reduces the financial exposure from the original proceedings. Instead of facing a potential liability of nearly ₹98 crores, the company now faces a total financial impact of approximately ₹2.28 lakh, representing less than 0.25% of the original demand amount.

Regulatory Compliance Update

This conclusion demonstrates Sterling Tools' ability to successfully navigate regulatory proceedings and defend its position with tax authorities. The company's submissions to the CGST authorities proved effective in achieving this favorable outcome, with the substantial tax demand being dropped entirely.

About Sterling Tools

Sterling Tools Ltd. specializes in manufacturing high tensile cold forged fasteners, primarily serving the automotive industry. The company supplies to major automotive manufacturers and has established itself as a significant player in the automotive component sector, operating from its facility in Faridabad, Haryana.