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| Exchange Received Time 22/03/2018 20:17:44 Exchange Disseminated Time 22/03/2018 20:17:45 Time Taken 00:00:01 | Sub: Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
Dear Sirs,
This is in continuation of our earlier communication dated 24.02.2018. The Company has today received an Order from the Principal Commissioner of Income Tax, rejecting the application for stay of demand and directing the Company to pay Rs.131.04 crores, partly by way of adjustment of refund of Rs.23 crores and partly in 3 installments payable on 15th April, 15th May and 15th June 2018 of Rs. 36 crores, 36 crores and 36.04 crores respectively. The Company has been advised that the Order passed will not withstand judicial scrutiny.
You are requested to take the information on record.
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