Markets

MOIL Limited Receives Order Regarding Tax Discrepancies Nagpur – April 1, 2026 – MOIL Limited, a Government of India enterprise, announced today that it has received an order from the Joint Commissioner of State Tax, Chhindwara Division, Jabalpur Zone, Madhya Pradesh. The order, dated March 31, 2026, relates to alleged discrepancies between GSTR-1, GSTR-3B, and E-way Bill data, as well as Input Tax Credit (ITC) related issues for the financial year 2022-23.The order, issued under Section 73 of the CGST/SGST Act, 2017, includes a total demand of ₹12,768,306. This comprises ₹11,607,551 in IGST and a penalty of ₹11,607,555. Interest is pending computation as of the payment date. The alleged discrepancies are attributed to factors such as...

Nilkamal Limited Receives Order from CGST and Central Excise (Appeals) Nilkamal Limited announced on April 1, 2026, that it received an order from the Office of the Commissioner, CGST and Central Excise (Appeals) in Ranchi. The order, dated March 31, 2026, pertains to a GST assessment order initially issued on February 5, 2025, by the Deputy Commissioner, State of Jharkhand, for the financial years 2017-18 to 2022-23.The company had previously filed an appeal against the assessment order on April 27, 2025. The final order from the Commissioner assesses a demand of Rs. 3,13,313, along with applicable interest and a penalty of Rs. 60,000.Nilkamal Limited intends to pay the assessed demand and will also file an amnesty application to...

Indian Hume Pipe Company Ltd. Reports Income Tax Penalty Order The Indian Hume Pipe Company Limited received orders from the Assessment Unit, Income Tax Department, NAFAC, Delhi, on March 31, 2026, related to income tax assessments for the Assessment Year 2023-2024.Penalty Order Under Section 270AThe company received an order dated March 31, 2026, under Section 270A of the Income Tax Act, 1961, imposing a penalty of Rs. 5,10,20,732. This penalty is based on the alleged under-reporting of income and misreporting of income. The order follows a disallowance of a deduction claimed under Section 54D of the Act, amounting to Rs. 7,30,03,569, initially made in an assessment dated March 25, 2025, and subsequently confirmed by the...

BPL Limited Receives Order from Debt Recovery Tribunal BPL Limited announced on April 1, 2026, that it received an order from the Debt Recovery Tribunal (DRT) in Delhi. The order, dated January 19, 2026, pertains to a continuing event regarding a corporate guarantee.According to the DRT order, BPL Limited acted as a corporate guarantor for a loan of Rs. 10 crore that its subsidiary, BPL Display Devices Limited (BDDL), availed in 2003. BDDL has been in liquidation since October 2008. The tribunal’s order allows ARCIL to invoke the guarantee and recover dues from BPL Limited.BPL Limited received a copy of the DRT order on March 19, 2026. The company experienced a slight delay in reporting due to efforts to verify the order's...

MT Educare Limited Discloses Defaults on Loan Payments MT Educare Limited announced on April 1st, 2026, that it has defaulted on payments of interest and principal related to loans from banks and financial institutions. The delays stem from disruptions in the education sector caused by COVID-19 pandemic restrictions and subsequent challenges faced by the company.As of March 31st, 2026, the company’s total outstanding loans and revolving facilities from banks and financial institutions amounted to INR 32.33 crore, with no default reported. The company has no outstanding unlisted debt securities.The company also disclosed corporate guarantees totaling INR 7.3 crore with Axis Bank Ltd. and INR 16.69 crore with Asset Care &...

Force Motors Reports Sales Increase in March 2026 Force Motors Ltd. announced sales figures for March 2026, indicating growth in domestic markets and a decline in export sales. Market trend analysisDomestic Sales Show Strong Growth The company reported 4,126 units sold in the Small Commercial Vehicle (SCV), Light Commercial Vehicle (LCV), Utility Vehicle (UV), and Sports Utility Vehicle (SUV) category for March 2026. This represents a 14.42% increase compared to 3,606 units sold in March 2025.Export Sales Decline Export sales for the same vehicle categories totaled 73 units in March 2026, a decrease of 22.34% from 94 units in March 2025.Combined Sales Reflect Overall Growth Total sales, combining domestic and export figures...

Prince Pipes and Fittings Limited Receives Demand Order for ₹31.12 Million Prince Pipes and Fittings Limited announced on April 1, 2026, that it received a demand order in Form GST DRC-07 dated March 30, 2026, from the Office of Joint Commissioner, State Goods & Service taxes Department, Government of Rajasthan, Jaipur. The demand order pertains to the financial year 2019-20 and totals ₹31,12,290, comprising a tax demand of ₹10,10,484, interest of ₹10,91,322, and a penalty of ₹10,10,484.The order alleges that the company claimed ineligible input tax credit under Section 17(5) of the CGST/RGST Act. According to the company’s assessment, the demand is not maintainable, and it is evaluating the matter and will submit a reply within the...

Sudarshan Chemical Industries Receives GST Order Sudarshan Chemical Industries Ltd. announced on April 1, 2026, that it received a GST Demand Order from the Office of the Superintendent of GST and CE, Range IV: Valasaravakkam Division Chennai, South Commissionerate, Tamil Nadu. The order, dated March 31, 2026, relates to the period from April 1, 2019, to March 31, 2024.The company faces a total demand of Rs. 65,920 for the period April 1, 2019 - March 31, 2020, Rs. 5,89,258 for the period April 1, 2020 - March 31, 2021, Rs. 4,19,970 for the period April 1, 2021 - March 31, 2022, Rs. 80,598 for the period April 1, 2022 - March 31, 2023, and Rs. 1,00,332 for the period April 1, 2023 - March 31, 2024.A breakdown of the demand for the...

Crompton Greaves Consumer Electricals Receives Order from Income Tax Appeals Centre Crompton Greaves Consumer Electricals Ltd. announced it received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, concerning the assessment year 2018-19. The order relates to an appeal filed by the company against an assessment order dated February 15, 2021, under Section 143(3) of the Income Tax Act, 1961.According to the company, the order involves demands stemming from disallowances related to provisions for warranty and after-sales services, expenditure incurred for earning exempt income, education cess claims, and reductions claimed under Section 80IC.The potential financial impact of...

Chandra Bhagat Pharma Ltd. Opens New Office in Dubai Chandra Bhagat Pharma Limited announced the opening of a new international business/representative office in Dubai, United Arab Emirates, to expand its global footprint and enhance export opportunities. The office aims to strengthen relationships with international clients and partners.The new office is scheduled to commence operations on March 31, 2026. This initiative aligns with the company’s strategic growth plans to tap into international markets and expand global business operations. Business news subscriptionAccording to a Certificate of Formation, the Chandra Bhagat Pharma Limited Branch was formed on March 31, 2026, with formation number 2645307. The address of the branch...

Sterling and Wilson Renewable Energy Receives Order from GST Authorities Sterling and Wilson Renewable Energy Limited announced on April 1, 2026, that it received an order from the Superintendent, CGST, Vidhyadhar Nagar, Jaipur, Rajasthan. The order, dated March 31, 2026, disallows input tax credit for the period April 2019 to March 2020, resulting in a demand for tax and penalty totaling approximately INR 26.38 Lakhs, including a penalty of INR 13.19 Lakhs.The company is currently evaluating the order and will determine its subsequent course of action. According to the company, there is no material impact on its operations as a result of this order.Sr. No.ParticularsDetails5Brief summary of the material contents of the...

National Highways Infra Trust Announces Unitholding Pattern Post-Issue National Highways Infra Trust (NHIT) has released its unitholding pattern following the allotment of units on March 25, 2026, through institutional placement and a preferential basis. The announcement, made on April 1, 2026, details the unit holdings as of that date.According to the filing, the total units outstanding for NHIT amount to 21,38,85,50,600.Breakdown of Unitholding: Sponsor(s), Investment Manager(s), and their associates/related parties hold 22,44,54,500 units, representing 10.50% of the total outstanding units. Within this group, Indian entities and Central/State Governments hold 22,44,54,500 units, representing 100% of the sponsor group’s holdings...

Three M Paper Boards Ltd. Reports Revenue Milestone in FY2025-26 Three M Paper Boards Ltd. announced it achieved a significant operational milestone during the financial year 2025-26, with revenue from Duplex Boards exceeding ₹300 crore. This figure includes ₹41 crore in export revenue.The company’s revenue saw a marked increase compared to the previous financial year, 2024-25, when revenue stood at ₹265 crore.According to Rushabh Shah, Managing Director, the growth reflects the company's focus on expanding market presence, strengthening customer relationships, enhancing operational efficiencies, and capitalizing on demand in the packaging and paperboard sector.The company cited improved demand in the packaging industry, strong...

Crompton Greaves Consumer Electricals Limited Appeals Tax Order Crompton Greaves Consumer Electricals Limited announced today, April 1, 2026, that it has received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, confirming a previous assessment order from the Income Tax Department for Assessment Year 2023-24.The company had previously filed an appeal against the original assessment order. The current order pertains to demand related to disallowances concerning provision for warranty and after-sales services, depreciation on intangible assets, and ESOP expenses.Crompton Greaves Consumer Electricals Limited intends to file an appeal against this order and anticipates a...

Amber Enterprises India Ltd. Increases Stake in Unitronics to 49.66% Amber Enterprises India Limited announced that IL JIN Electronics (India) Private Limited, a material subsidiary, has further indirectly acquired an additional 4.85% stake in Unitronics (1989) (R"G) Ltd. The acquisition was carried out through ILJIN Holding Ltd., a wholly-owned subsidiary of IL JIN, in multiple transactions.As a result of this acquisition, IL JIN now holds a 49.66% ownership stake in the equity share capital of Unitronics. This follows previous acquisitions disclosed on July 28, 2025, October 6, 2025, October 9, 2025, November 24, 2025, and December 31, 2025.Source:

Tilaknagar Industries’ Mansion House Brandy Surpasses 10 Million Cases in Sales Mumbai, April 1, 2026 – Tilaknagar Industries Limited (TI) (BSE: 507205 | NSE: TI) announced that its flagship brand, Mansion House Brandy (MHB), has exceeded 10 million cases in sales for fiscal year 2026, a significant increase from 8.7 million cases in fiscal year 2025.The achievement reflects the strong performance of the entire Mansion House portfolio, which includes Mansion House French Brandy, Mansion House Reserve, and Mansion House 'Flandy' (Flavoured Brandy).Mansion House Brandy has been recognized by Drinks International in its 'Millionaires' Club' reports for 2024 and 2025, holding the distinction of being India's largest-selling brandy and...

Crompton Greaves Consumer Electricals Receives Order from Income Tax Appeals Centre Crompton Greaves Consumer Electricals Limited announced today, April 1, 2026, that it has received an order from the office of the Commissioner of Income Tax (Appeals), National Faceless Appeals Centre, Delhi, concerning the assessment period for AY 2020-21. The order pertains to an appeal filed by the company against an assessment order dated September 26, 2022, issued under Section 143(3) of the Income Tax Act, 1961.According to the company, the order involves a demand raised due to the disallowance of provision for warranty and after-sales services. Crompton Greaves Consumer Electricals intends to file an appeal against this order and anticipates a...

PNB Housing Finance to Hold Board Meeting for Fiscal Year-End Results PNB Housing Finance Ltd. announced that a Board of Directors meeting is scheduled for Monday, April 20, 2026, to review and approve the audited financial results for both standalone and consolidated operations for the quarter and financial year ending March 31, 2026.The meeting will be held in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.Trading in the company's securities has been suspended for designated individuals and their immediate relatives since Wednesday, April 1, 2026, and will remain closed until 48 hours after the financial results are declared, aligning with the company's Insider Trading Code and SEBI...

Ashiana Housing Ltd. Receives Rectification Order Regarding GST Demand Ashiana Housing Ltd. announced on April 1, 2026, that the GST Department in Jaipur has issued a rectification order related to a previous order under section 74 of the CGST Act 2017. The initial order, passed by the Proper Officer, involved a late payment of tax liability amounting to ₹ 4,18,776.Of this total, ₹ 1,49,311 has already been paid by the company. The rectification order has dropped the remaining demand of ₹ 2,69,465, which pertained to interest on the delayed tax payment.According to a communication from the Office of the Superintendent, CGST Range - XXXVIII, Jaipur (South Central), the rectification order does not involve any violation or...

Atmastco Defence Systems Clears Ballistic Tests for Bullet-Resistant Jackets Bhilai – April 1, 2026 – Atmastco Limited announced that its wholly-owned subsidiary, Atmastco Defence Systems Private Limited, has successfully completed ballistic testing by the Ballistic Research Centre & Testing Range (BRCTR) of the National Forensic Sciences University (NFSU). The NFSU is a Government of India authorized laboratory for certification of bullet-resistant jackets under Indian Standard IS 17051:2018.Two evaluation reports, dated March 30, 2026, confirmed that Atmastco Defence’s Soft Armor Panels (SAP) and Hard Armor Panels (HAP) passed the tests outlined in Indian Standard IS 17051:2018. The panels demonstrated zero perforation and back-face...