Vakrangee Limited has informed the stock exchanges about receiving an Income Tax penalty order of ₹28,90,765 for the assessment year 2018-19. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Income Tax Penalty Details

The company received two separate notices from the Income Tax Department on December 30, 2025. These include a demand notice under section 156 of the Income-Tax Act, 1961, and a penalty order under section 270A of the Income Tax Act, 1961.

Nature of Violation

The penalty has been imposed in connection with an earlier Income Tax assessment for the assessment year 2018-19. The order under section 270A relates to penalty provisions under the Income Tax Act, while the section 156 notice determines the total demand amount.

Company's Response and Impact Assessment

Vakrangee Limited has stated that it believes the penalty demand is not maintainable and is currently in the process of filing an appeal against the order. The company has assessed that this development will have no material impact on its financial, operational, or other activities.

Regulatory Compliance

The disclosure was made by Company Secretary and Compliance Officer Amit Gadgil in compliance with Regulation 30 read with sub-para 20, Part A, Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also adhered to the requirements of SEBI Circular No. SEBI/HO/CFD/POD2/CIR/P/0155 dated November 11, 2024.

This penalty notice represents a routine regulatory disclosure as Vakrangee Limited continues to address tax-related matters through appropriate legal channels while maintaining its operational focus.

Vakrangee Limited has filed a company petition with the National Company Law Tribunal (NCLT) Mumbai seeking consolidation of its share capital. The petition, filed under Section 61(1)(b) of the Companies Act, 2013, marks a significant corporate restructuring initiative by the company.

Petition Details and Legal Framework

The company has filed Company Petition No. CP/265 (MB) 2025 before the Hon'ble National Company Law Tribunal, Mumbai Bench–IV. The petition seeks consolidation of share capital under Section 61(1)(b) of the Companies Act, 2013, along with other applicable provisions of the Companies Act and rules made thereunder.

Tribunal Proceedings and Timeline

The NCLT Mumbai admitted the company petition on December 11, 2025. Following the tribunal's order dated December 11, 2025, Vakrangee Limited has completed the mandatory newspaper publications announcing the next hearing date. The company published notices in two newspapers as required by law.

Regulatory Compliance

The disclosure has been made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled all procedural requirements including newspaper publications in both English and regional languages as mandated by the tribunal's order.

The petition will be heard on January 29, 2026 at 10:30 a.m. or soon thereafter before the Hon'ble National Company Law Tribunal, Mumbai Bench–IV. The company secretary and compliance officer Amit Gadgil has signed the disclosure document, ensuring proper regulatory compliance and transparency with stakeholders.