In terms of provisions of Regulation 30 (read with Part A of Schedule III) and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations), Ashapura Minechem has informed that an order by DCIT, bearing DIN & Notice no. ITBA/GEA/M/254/2025-26/1078030722(1) for AY 2019-20 dated 27th June, 2025 was uploaded on Income Tax Portal and also received by email on 07th July, 2025. As per direction from ITAT, Mumbai, the Assessing Officer verified all the documents produced as evidence and concluded that the adjustment made by CPC u/s 143(1)(a) amounting to Rs 259.20 crore is not in accordance with the provisions of the law. Accordingly, total income for the year is computed as Nil and that the Business and Depreciation losses for the year 2019-2020 and earlier years to the tune of Rs. 259.20 crores utilized against such Income has been restored back. The said losses of Rs. 259.20 Crores shall now be available for utilizing and setting off against future profits of the Company. Additionally, they submitted that the Company has settled all other pending litigations under Direct Tax - Vivaad Se Vishwas 2024 for which Form 4 has been received in all the cases. It is pertinent to note that as on date, the Company is free of all Income Tax related Litigations. The details, as required pursuant to Para B of Part A of Schedule III read with SEBI circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023, are enclosed. 

The above information is a part of company’s filings submitted to BSE.