Mahanagar Telephone Nigam Limited — Important, 19-02-2025: General Updates

The company has received a demand notice from the Income Tax Department for the recovery of outstanding TDS/TCS for the Assessment Year 2007-08, totaling Rs. 2.47 crore (cr), which includes a short payment demand of Rs. 1.12 crore (cr). The notice was received on February 18, 2025, and outlines that this demand has been raised against the company's TAN number. Fortunately, the company has indicated that this demand will not have a material impact on its financials or operations. It is actively preparing a response to the notice within the required timeframe. Investors should watch closely for any further updates regarding this matter as the company navigates this challenge.