The New India Assurance Company Limited — Important, 19-06-2026: Disclosure of material issue

New India Assurance (#NIACL) received a penalty order from the Income Tax Department for Rs 6.86 lakh for AY 2014-15. The issue stems from alleged underreporting of income from foreign dividends. This amount will be accounted for as a contingent liability. The company plans to appeal the order before the National Faceless Appeal Center (NFAC) or explore other legal options.