Nilkamal Limited — Important, 05-02-2025: General Updates

The company has received an intimation from the Office of the Assistant Commissioner of State Tax, Investigation-A, Mumbai, regarding certain tax proceedings for the fiscal years 2021-22, 2022-23, and 2023-24. A total liability of ₹0.99 lakh (Rs. 98,794) has been cleared under DRC-01. However, two banks have frozen ₹29.04 lakh (Rs. 2.90 crore) from the company's accounts following the receipt of DRC-22 on February 4, 2025. The company believes there’s no material impact on its financial or operational activities from this matter and has approached the authorities for the de-freezing of the amount. Watch closely for updates on any potential risks or resolutions to this situation.