Income Tax Provisional Attachment Order Affects 58,674 Promoter Shares
The company received an Income Tax Department order dated 22/09/2026 provisionally attaching properties of late promoter Shri Mahesh Prasad Mehrotra under the Black Money Act.
By ScoutQuest · · 1 min read
- Order Date
- 22/09/2026
- Attachment Authority
- Income Tax Department, Investigation Delhi
- Legal Basis
- Section 84 of Black Money Act read with Section 281B of Income-tax Act, 1961
- Shares Affected
- 58,673 equity shares plus 1 equity share
- Issue Nature
- Allegedly undisclosed foreign assets of late promoter Shri Mahesh Prasad Mehrotra
What happened
The company informed BSE that it received an order dated 22/09/2026 from the Income Tax Department, Office of the Deputy Director of Income Tax, Investigation (Inv)-3(1) FAIU, Delhi. The order is a provisional attachment order passed under section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 read with section 281B of the Income-tax Act, 1961.
It provisionally attaches the movable and immovable properties of the promoter, late Shri Mahesh Prasad Mehrotra, pending conclusion of proceedings under that Act.
Shares affected
- 58,673 equity shares of the company held by late Ms. Divya Mehrotra, which passed on to late Shri Mahesh Prasad Mehrotra
- 1 equity share held by late Shri Mahesh Prasad Mehrotra
Alleged issue
The stated basis is allegedly undisclosed foreign assets representing income of late Shri Mahesh Prasad Mehrotra which were not disclosed for the purpose of taxation in India.
Company's view
The information came to the company's knowledge on September 23, 2026 at 7:45 p.m. Management perceives that there will not be any material impact on the financials, operations or other activities of the company due to this order.
How to read it
A provisional attachment is an interim step that restricts dealing in the attached assets while proceedings continue; it is not a final determination. The matter relates to a promoter's personal assets and the promoter shareholding in the company, rather than to the company's own assets or business operations.
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More numbers
- Equity shares affected (held by late Ms. Divya Mehrotra, passed on)58,673 Equity Shares
- Equity shares held by late Shri Mahesh Prasad Mehrotra1 Equity Share
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