Xchanging Solutions Limited has received an Income Tax order under Section 92CA(3) for Assessment Year 2023-24, involving significant transfer pricing adjustments. The company disclosed this development to stock exchanges on January 23, 2026, in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Transfer Pricing Adjustments Details

The Income Tax Authority has computed transfer pricing adjustments amounting to approximately INR 23.88 crores for specific transactions with Associated Enterprises. The adjustments cover two main areas of concern identified by the tax authorities.

Nature of Violations

The transfer pricing adjustments specifically relate to transactions involving interest on loans provided to Associated Enterprises and interest on delayed receivables from Associated Enterprises. These transactions were scrutinized under the transfer pricing provisions of the Income Tax Act, which require arm's length pricing for international transactions between related entities.

Financial Impact and Company Response

The company has indicated that the impact on financial statements remains undetermined at this stage. The final tax demand, including any applicable penalties, will be determined as part of the comprehensive assessment order that follows this initial computation.

Xchanging Solutions Limited plans to file its objections and response with the Income Tax Appellate Authorities within the prescribed timelines. This represents the company's standard approach to contest transfer pricing adjustments through the established appellate process.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI Listing Regulations, specifically under clause 20 of Para A of Part A of Schedule III. The company provided comprehensive details as required under the Master SEBI circular dated November 11, 2024, ensuring full transparency with stakeholders regarding this regulatory development.

Xchanging Solutions Limited has announced the resignation of Mrs. Janaki Ashwin Patwardhan from her position as Non-Executive Independent Director, effective January 14, 2026. The resignation was submitted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Mrs. Janaki Ashwin Patwardhan (DIN: 09180182) tendered her resignation through a letter dated January 14, 2026, citing personal reasons and restructuring of professional commitments as the primary factors for her decision. The resignation became effective from January 14, 2026, at 23:59 hours.

Committee Positions Affected

With her resignation from the board, Mrs. Patwardhan also ceased to hold several key committee positions within the company structure. Her departure impacts multiple governance committees where she served in leadership and member roles.

The following committee positions were affected:

• Chairperson of Corporate Social Responsibility Committee
• Chairperson of Stakeholders Relationship Committee
• Member of Audit Committee
• Member of Nomination and Remuneration Committee

Regulatory Compliance

The company has fulfilled its disclosure obligations pursuant to Regulation 30 read with Para A(7B) of Part A of Schedule III of Listing Regulations and SEBI Master Circular bearing Reference Number SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Information

Xchanging Solutions Limited, a DXC Technology Company, is incorporated under CIN: L72200KA2002PLC030072 with its registered office located at HP Avenue, 39/40, Electronic City, Hosur Main Road, Bengaluru 560 100, Karnataka, India. The resignation letter was signed by Company Secretary & Compliance Officer Radhika Khurana (Membership No. A32557) and communicated to both BSE Limited and National Stock Exchange of India Limited.

Mrs. Patwardhan expressed gratitude in her resignation letter, stating it was "an honour to serve the company and the stakeholders" and extended wishes for "a glorious and prosperous future" to the company, DXC group, staff, stakeholders, Board of Directors, and Key Managerial Personnel.