DS Kulkarni Developers Limited — Important, 12-03-2025: General Updates

The Company has received a Demand Letter from the Income Tax Department, raising a demand of Rs. 24.33 Cr under the Income Tax Act, due on account of interest for late payment, additional late payment, and late filing fees. This outstanding demand poses potential financial implications, particularly since the Company has been undergoing Corporate Insolvency Resolution Process (CIRP). It is currently managed by the Successful Resolution Applicant as approved by the Hon'ble National Company Law Tribunal (NCLT) in mid-2023. The Company intends to pursue legal remedies in response to this demand, aligning with the approved Resolution Plan. This situation warrants close attention from investors as it may affect operational stability and financial health moving forward.