DIC India Limited — Others, 31-03-2025: Action(s) taken or orders passed

DIC India Limited has communicated that the Income Tax Department has issued two penalty orders totaling ₹2.22 crore, imposed under sections 271D and 271E of the Income Tax Act for financial year 2019-20. The company intends to file an appeal against these orders. While the penalty represents a significant amount, management indicates that there is no material impact on its overall financial or operational activities at this time. Investors may view the appeal process as a neutral impact, with potential for a positive outlook if the company successfully contests the penalties.