Emkay Global Financial Services MD, chairman and AGM
NSE: EMKAYBSE: 532737Capital MarketsSmall Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹287.20.
28 Oct: open ₹287.20, high ₹289.45, low ₹278.10
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹803 Cr1,735th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 41.11
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- Shares changed
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.52%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 5.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 4.3%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.24
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,80,55461.8% delivered
Emkay Global Financial Services' chairperson is Sushil Kumar Saboo, its managing director Krishna Kumar Karwa and its managing director Prakash Kacholia, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 10 Aug 2026.
Emkay Global Financial Services board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Managing directorKrishna Kumar Karwa
- Managing directorPrakash Kacholia
- ChairpersonSushil Kumar SabooRelated to the promoter
- Company Secretary and Compliance OfficerNishant S. Shirke
8 directors4 independent3 executive1 non-executive
- Krishna Kumar Karwa · Managing directorExecutive · joined Jan 1995 · reappointed Oct 2025 · 1 listed board · 2 committee seats
- Prakash Kacholia · Managing directorExecutive · joined Jan 1995 · reappointed Oct 2025 · 2 listed boards · 1 as independent · 3 committee seats
- Sushil Kumar Saboo · ChairpersonNon-executive · joined Oct 1995 · reappointed Aug 2025 · 1 listed board
- Raunak KarwaExecutive · joined Oct 2024 · 1 listed board
- Hutokshi WadiaIndependent · joined May 2022 · reappointed May 2022 · 52 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
- Bharat Kumar SinghIndependent · joined Jan 2018 · reappointed Aug 2023 · 104 months as independent · 1 listed board · 1 as independent · 3 committee seats, 1 as chair
- Rajesh ShahIndependent · joined Aug 2026 · reappointed Aug 2026 · 1 month as independent · 1 listed board
- Ajay MahajanIndependent · joined Dec 2025 · reappointed Dec 2025 · 10 months as independent · 1 listed board · 1 as independent · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
2 directors who left
- Satish Shripad Ugrankar, left 9 Aug 2026: Tenure Completion
- A. DHANANJAYA, left 11 Sep 2025: Others
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 27 Jul 20268 of 8 present4 independent · 72 days in between
- 15 May 20268 of 8 present3 independent
Audit Committee
Chair Hutokshi Wadia
Bharat Kumar Singh, Prakash Kacholia, Ajay Mahajan
- 27 Jul 20265 of 5 present4 independent · 72 days in between
- 15 May 20264 of 4 present3 independent
Nomination and remuneration committee
Chair Hutokshi Wadia
Sushil Kumar Saboo, Bharat Kumar Singh
- 15 May 20264 of 4 present3 independent
Stakeholders Relationship Committee
Chair Bharat Kumar Singh
Krishna Kumar Karwa, Prakash Kacholia
- 27 Jul 20264 of 4 present2 independent · 72 days in between
- 15 May 20264 of 4 present2 independent
Corporate Social Responsibility Committee
Chair Bharat Kumar Singh
Krishna Kumar Karwa, Prakash Kacholia
- 15 May 20263 of 3 present1 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Sep 2026.
- S. R. Batliboi & Co. LLPPeer-review certificate valid to Jul 2027
1 earlier auditor
- S.R. Batliboi Co. LLPNamed in the filing for the quarter to Sep 2025
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Emkay Global Financial Services AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Emkay Global Financial Services dividend history
Postal ballot, 13 Oct 2026
11,960 shareholders on the register on 8 Sep 2026; votes counted by SARVARI SHAH / PARIKH & ASSOCIATES.The company's voting result
- To approve Appointment of Mr. Rajesh Shah (DIN: 06390775) as a Non-Executive Independent Director of the Company for a period of 5 years with effect from 19th August, 2026.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.08%
Turnout: all 74.66% · promoters 100.00% · institutions 86.57% · other public 4.42%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 10 Aug 2026, 7 resolutions
12,103 shareholders on the register on 3 Aug 2026; present: 5 promoters and 125 others; votes counted by SARVARI RAJESH SHAH / M/S PARIKH & ASSOCIATES.The company's voting result
To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026, together with the reports of the Board of Directors and Auditors thereonMoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
- To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026, together with the reports of the Auditors thereonOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
- To declare Dividend on equity shares of the Company for the Financial Year ended 31st March, 2026Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
- To re-appoint Mr. S. K. Saboo (DIN-00373201), as a Director who retires by rotation and being eligible, offers himself for re-appointmentSpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
- Payment of Commission to Independent Directors of the Company for a period of five years from financial year 2026-27 to financial year 2030-31Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
- Increase in borrowing limits and creation of charge on the assets of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
- Issuance of Non-Convertible Debentures on a private placement basisSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 73.39% · promoters 97.51% · institutions 88.77% · other public 7.26%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 21 Mar 2026, 1 resolution
11,812 shareholders on the register on 13 Feb 2026; votes counted by SARVARI SHAH / PARIKH & ASSOCIATES.The company's voting result
- Appointment of Mr. Raunak Karwa (DIN: 08632290) as a Whole-Time Director designated as an Executive Director of the Company for a period of three years and payment of remuneration to him.SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 74.88% · promoters 97.32% · institutions 88.90% · other public 15.32%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 9 Jan 2026, 1 resolution
11,797 shareholders on the register on 5 Dec 2025; votes counted by SARVARI SHAH / PARIKH & ASSOCIATES.The company's voting result
- APPOINTMENT OF MR. AJAY MAHAJAN (DIN: 05108777) AS AN INDEPENDENT DIRECTOR OF THE COMPANYSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 73.34% · promoters 97.28% · institutions 84.87% · other public 10.73%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Extraordinary general meeting, 17 Oct 2025, 2 resolutions
12,274 shareholders on the register on 10 Oct 2025; present: 6 promoters and 100 others; votes counted by MITESH DHABLIWALA / PARIKH AND ASSOCIATES.The company's voting result
- TO ALTER THE ARTICLES OF ASSOCIATION OF THE COMPANYSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 72.52% · promoters 97.28% · institutions 81.76% · other public 7.52%
- TO APPROVE ISSUE AND ALLOTMENT OF CONVERTIBLE WARRANTS ON PREFERENTIAL BASISSpecialPromoters have an interest in it98.99% for1.01% against
Against: promoters 0.00% · institutions 100.00% · other public 0.00%
Turnout: all 72.52% · promoters 97.28% · institutions 81.76% · other public 7.52%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 11 Aug 2025, 7 resolutions
11,771 shareholders on the register on 4 Aug 2025; present: 6 promoters and 116 others; votes counted by SARVARI RAJESH SHAH / M/S PARIKH & ASSOCIATES.The company's voting result
To receive, consider and adopt the audited financial statements including audited consolidated financial statements of the Company for the financial year ended 31st March, 2025 together with the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
- To declare Dividend on equity shares of the Company for the Financial Year ended 31st March, 2025.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
- To appoint a director in place of Mr. S. K. Saboo (DIN-00373201), who retires by rotation and being eligible, offers himself for re-appointment.SpecialPromoters have an interest in it98.98% for1.02% against
Against: promoters 0.00% · institutions 100.00% · other public 0.03%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
Re-appointment of Mr. Krishna Kumar Karwa (DIN- 00181055) as Managing Director of the Company for a further period of 3 (three) years with effect from October 1, 2025 and payment of remuneration to him.MoreLess
SpecialPromoters have an interest in it100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
- Re-appointment of Mr. Prakash Kacholia (DIN-00002626) as Managing Director of the Company for a further period of 3 (three) years with effect from October 1, 2025 and payment of remuneration to him.SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
- To approve the Alteration of Articles of Association of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
- Appointment of M/s. Parikh & Associates as the Secretarial Auditor of the Company for a period of 5 (five) years and to fix their remuneration.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 71.83% · promoters 97.28% · institutions 83.97% · other public 4.74%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 19 Dec 2024, 3 resolutions
- APPOINTMENT OF MR. A. DHANANJAYA (DIN:01744569) AS AN INDEPENDENT DIRECTOR OF THE COMPANYSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 73.49% · promoters 97.28% · institutions 98.72% · other public 4.71%
- APPOINTMENT OF MR. RAUNAK KARWA (DIN:08632290) AS A NON-EXECUTIVE DIRECTOR OF THE COMPANYOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 73.49% · promoters 97.28% · institutions 98.72% · other public 4.71%
- PRIVATE PLACEMENT OF SENIOR, UNSECURED, LISTED, RATED, TRANSFERRABLE REDEEMABLE, NON-CONVERTIBLE DEBENTURESSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.04%
Turnout: all 73.49% · promoters 97.28% · institutions 98.72% · other public 4.71%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 8 Aug 2024, 3 resolutions
Present: 5 promoters and 87 others.
To receive, consider and adopt the audited financial statements including audited consolidated financial statements of the Company for the financial year ended 31st March, 2024 together with the reports of the Board of Directors and Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 74.48% · promoters 97.28% · institutions 97.94% · other public 6.75%
- To declare Dividend on equity shares of the Company for the Financial Year ended 31st March, 2024.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 74.48% · promoters 97.28% · institutions 97.94% · other public 6.75%
- To appoint a director in place of Mr. S. K. Saboo (DIN-00373201), who retires by rotation and being eligible, offers himself for re-appointment.SpecialPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 74.48% · promoters 97.28% · institutions 97.94% · other public 6.75%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Fines and tax disputes
Reported in the filing for the quarter to Sep 2026.
- Fine or penaltyNSE Clearing LimitedSince 30 Sep 2026₹0.02 Cr
Penalty levied due to Margin Shortfall
- Fine or penaltyMCX Clearing Corporation LimitedSince 30 Sep 2026₹2,459
Penalty levied due to Margin Shortfall
- Fine or penaltyCentral Depository Services (India) LimitedSince 30 Sep 2026₹1,000
Incorrect entry of PAN details in CDAS
In correct PAN details incorpoarted at the time of Account opening by team - Fine or penaltyNational Stock Exchange of India LimitedSince 7 Jul 2026₹1,000
Proposed Penalty yet to be levied
We would like to draw attention to NSE Circular No. 75046 dated July 03, 2026, which clearly states that if a client has made the requisite payment against securities lying in CUSPA, the pledged securities may be released on or before the next trading dayMoreLess
- Fine or penaltyNational Stock Exchange of India LimitedSince 13 Aug 2026₹1,300
Proposed Penalty yet to be levied
The funds lying in DSCNBA pertain to cheques issued to clients that were not presented or honoured by the beneficiaries. Further in accordance with applicable RBI guidelines and prudent banking practices, whenever a cheque is issued to a client, the issuer is required to maintain sufficient funds until the cheque is either encashed, cancelled, or becomes stale. Accordingly, the amounts relating to such outstanding cheques are retained and cannot be up streamed.MoreLess
- Fine or penaltyNational Stock Exchange of India LimitedSince 9 Sep 2026₹1,500
Proposed Penalty yet to be levied
The funds lying in DSCNBA pertain to cheques issued to clients that were not presented or honoured by the beneficiaries. Further in accordance with applicable RBI guidelines and prudent banking practices, whenever a cheque is issued to a client, the issuer is required to maintain sufficient funds until the cheque is either encashed, cancelled, or becomes stale. Accordingly, the amounts relating to such outstanding cheques are retained and cannot be up streamed.MoreLess
- Fine or penaltyNational Stock Exchange of India LimitedSince 3 Sep 2026₹5,000
Proposed Penalty yet to be levied
While updating the bank details on the Exchange portal, we encountered a system error while entering the bank name. Consequently, we reported a shortened version of the bank name to complete the submission process. Subsequently, we followed up with the Exchange and successfully got the bank name corrected on the Exchange portal.MoreLess
- Fine or penaltyNational Stock Exchange of India LimitedSince 13 Aug 2026₹2,700
Proposed Penalty yet to be levied
The inspecting official has inadvertently considered the client's Mark-to-Market (MTM) profit amounting to Rs. 2,02,597.20. As per our settlement-day billing process for the NSE F&O segment, MTM profits are credited in our books on T+1 day. Therefore, the said MTM profit was not available in the client's ledger on the date under consideration. Consequently, we invoked the client's pledged securities only to the extent of the actual outstanding obligations. Reply submitted on 21.08.2026.MoreLess
8 more
- Fine or penaltyNational Stock Exchange of India LimitedSince 30 Sep 2026₹10,000
Reversal of Penalty
The Exchange had issued an observation proposing a penalty of Rs. 10,000 for non-submission of client intimation regarding transfer of funds during the running account settlement process. The Company submitted its response along with relevant supporting documents, and the matter had already been disclosed in Quarter 1. Subsequent to review of the Company's written submissions and evidences, the Exchange has communicated that the explanations are satisfactory and has waived the proposed penalty of Rs. 10,000. Therefore, no penalty has been imposed on the Company and the matter stands resolved.MoreLess
- Tax disputeDy. Comm. of State Tax (Mumbai-LTU-502) , Large Tax Payer Unit - I , Mumbai.Since 29 Jul 2022Order yet to be received , however the demand is removed from the GST Portal by the department.
At the filing before: Order u/s 73 r.w.s 50 and 122 of MGST Act, 2017 disallowing Input Tax Credit of Rs 4,00,992/- along with leyving Interest of Rs 7,35,287/ and Penalty of Rs 45,264/-, making total of Rs 11,81,544/- for the financial year 2017-18. The Company has already paid a sum of Rs 40,100/- against the said demand. The Company has filed an Appeal before the Appelate Authority on 21.10.2022 and the hearing is still pending. Meanwhile the Company has in January 2025 opted for the GST Amnesty Scheme 2024 u/s 128A of CGST Act, 2017. We have filed SPL-02 on 18.02.2025 being application for waiver of penalty and interest u/s 128A of CGST Act , 2017. Further , we have paid balance tax of Rs 3,60,892/- on 26.03.2025 via Form GST DRC -03 under GST Amnesty Scheme 2024 and now await for the approval of the same. There are no further developments in the matter.MoreLess
- Tax disputeAsst. Comm. Jurisdiction Ghatak 9 , Ahmedabad Range 3 , Div 1 GujaratSince 27 Dec 2024Still no further progress in the matter
At the filing before: Order u/s 74 and Rule 142 of GGST Act, 2017 disallowing Input Tax Credit of Rs 14,45,566/- along with levying Interest of Rs 13,64,456/- and Penalty of Rs 14,45,566/- making total of Rs 42,55,588/- for the financial year 2019-20. The Company shall be filing Appeal before the Divisional Dy. Comm. of State Tax ( Appeals ) with in three months from the date of the said order. We have filed the Appeal on 26.03.2025 vide Form APL-01 and made payment of Rs 1,44,558/- being 10% of the disputed tax amount. The hearing and order is pending. There are no further developments in the matter.MoreLess
- Tax disputeDeputy Commissioner, State Tax, Sector-10, KanpurSince 18 Feb 2025Appeal filed on 30.06.2026 with GST Appellate Tribunal, Lucknow. No further progress in the matter.
At the filing before: Order u/s SECTION-73(9), See rule 142(5) dated 18.02.2025 disallowing Input Tax Credit of Rs 5,65,209/- along with levying Interest of Rs 4,40,954/ and Penalty of Rs 1,25,978/- , making total of Rs 11,32,141/-for the financial year 2020-21. The Company shall be filing Appeal before the appropriate authority within three months from the date of the said order. The Company paid a sum of Rs 56,521/- against the said order. The Company received order dated 06.06.2025 and the Appeal has been rejected by the appropriate authority. The Company shall be filing Appeal before CESAT before the due date and a further sum of Rs 56,521/- has been paid making 10% of the tax disputed amount.There are no further developments in the matter.MoreLess
- Tax disputePrincipal Commissioner CGST and CEX Mumbai CentralSince 15 Jan 2019No further progress in the matter
At the filing before: Orders No's being 147 and 148 both dated 15.01.2019 issued by COMMR(DR.KNR)/CGST AND CEX/MC.2018-19 evading payment of Service tax u/s 67 and Section 68 of The Finance Act , 1994 read with Rule 6 of the Service Tax Rules , 1994. Service Tax Amount is Rs 5,12,47,152/- and levying Interest at appropraite rates u/s 75 of the Finance Act, 1994 and Penalty of Rs 3,73,76,949/- u/s 76 and 78 of the Finance Act, 1994 making total of Rs 8,86,24,101/-. Against the said demand , the company has paid Rs 38,43,538/- before filing the Appeal..Subsequently , the Company has filed an Appeal before CESTAT , Mumbai on 12.04.2019 and the hearing is still pending. There are no further developments in the matter.MoreLess
- Tax disputeAssistant Director Of Income Tax CPC BangaloreSince 12 Dec 2024No further progress in the matter
At the filing before: Disallowance of Rs 68,25,801/- u/s 143(1) being fines and penalities paid to Stock Exchanges u/s 37. Filed Appeal on 24.12.2024 and the ADDL/JCIT(A)-2 Ludhiana passed the order dated 22.01.2025 allowing our appeal Assessment Year is 2024-25. Matter over . Order u/s 250 dated 22.01.2025 issued. Appeal allowed in our favor. Order giving effect dated 23.08.2025 received. Relief allowed of Rs 68,25,801/-. Further company received notice u/s 143(2) dated 24.06.2025 and subsequently also received notice u/s 142(1) dated 30.07.2025 for assessment proceedings. The Company has submitted the required details as per this notice and is awaiting for any further requiements from the Assessment authorities and hence as of now no dispute in the matter till we recieve the assessment order.MoreLess
- Tax disputePRINCIPAL COMMISSIONER OF INCOME TAX,PCIT, Mumbai-4Since 20 Mar 2026Hearing before the ITAT is pending.
At the filing before: Order u/s 263 of THE INCOME TAX ACT, 1961 dated 20.03.2026 issued whereby the Assesssment Order dated 21.03.2024 issued by the Assessment Unit of the Income Tax department for Assessment Year 2022-23 is partly set aside. The Company is in the process of filing appeal befor ITAT against the said order dated 20.03.2026. Subsequently, Appeal filed with ITAT,Mumbai on 07.05.2026MoreLess
- Tax disputeAppeal to the Joint Commissioner (Appeals) or the Commissioner of Income-tax (Appeals)Since 22 Jun 2026No further developments in the matterAt the filing before: Intimation u/s 143(1) dated 03.06.2026 for Assessment Year 2025-26 raising demand of Rs 4,92,470/-. Hearing for the same is pending.
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- Yes
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.
How money raised was used
Reported for the quarter to Sep 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the raise it states and its own uses differ by fifty times or more, a figure typed at the wrong scale.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesJul 2026, checked by CARE Ratings Limited | – | Working Capital Requirement | – | – | No |
| Preferential IssuesJul 2026, checked by CARE Ratings Limited | – | General Corporate Purpose | – | – | No |
| Preferential IssuesJul 2026, checked by CARE Ratings Limited | – | Working Capital Requiremen | – | – | No |
| Preferential IssuesJul 2026, checked by CARE Ratings Limited | – | General Corporate Purpose | – | – | No |
| Preferential IssuesAug 2026, checked by CARE Ratings Limited | – | Working Capital Requirement | – | – | No |
| Preferential IssuesAug 2026, checked by CARE Ratings Limited | – | General Corporate Purpose | – | – | No |
| Preferential IssuesSep 2026, checked by CARE Ratings Limited | – | Working Capital Requirement | – | – | No |
| Preferential IssuesSep 2026, checked by CARE Ratings Limited | – | General Corporate Purpose | – | – | No |
| Preferential IssuesSep 2026, checked by CARE Ratings Limited | – | Working Capital Requirement | – | – | No |
| Preferential IssuesSep 2026, checked by CARE Ratings Limited | – | General Corporate Purpose | – | – | No |