Shree Renuka Sugars Limited — Others, 01-07-2025: Action(s) taken or orders passed

Shree Renuka Sugars’ erstwhile subsidiary, Monica Trading Private Limited, has been penalized Rs. 4.75 crore by the Income Tax Department for alleged non-submission of documents related to AY 2012-13. This follows rejection of the company’s appeal against a tax demand of Rs. 7.01 crore tied to unexplained investments. Monica had recorded supporting transactions including land purchase and unsecured loans from Shree Renuka Sugars. The company is confident in its position and is pursuing further appeals. This matter currently does not affect Shree Renuka Sugars’ financials or operations.