Integrated Filing-Governance



General information about company

Scrip Code 543254
NSE Symbol AWHCL
MSEI Symbol NOTLISTED
ISIN INE01BK01022
Name of the entity ANTONY WASTE HANDLING CELL LIMITED
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? No
Reason For Part C Of Annexure I Disclosure Of Acquisition Of Shares OrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity Since there were no transactions of Acquisition of Shares of Voting Rights in Unlisted Companies during the reporting report, the said disclosures in not applicable.
Whether Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? No
Reason For Part D Of Annexure I Disclosure Of Imposition Of Fine Or Penalty Is Not Applicable To The Entity There were no Fine or Penalty, imposed during the reporting period, the said disclosure is not applicable.
Whether Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? Yes
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity? No
Reason For Part F Of Annexure I Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity Not Applicable for relevent period.
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 2000 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID COMZ00735
Reason For No SCORE ID
Type of Submission New
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory Chairman and Managing Director himself is a Promoter.
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO No Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mr. JOSE JACOB KALLARAKAL 00549994 Executive Director Chairperson related to Promoter MD 22-Jul-1973 No Active NA 17-Jan-2001 1 0 3 0
2 Mr. SHIJU JACOB KALLARAKAL 00122525 Executive Director Not Applicable 15-Dec-1976 No Active NA 17-Jan-2001 1 0 0 0
3 Mr. SHIJU ANTONY KALLARAKAL 02470660 Non-Executive - Non Independent Director Not Applicable 05-Jun-1974 No Active NA 12-Nov-2021 1 0 0 0
4 Mr. AJIT KUMAR JAIN 02011292 Non-Executive - Independent Director Not Applicable 21-Feb-1954 No Active NA 12-Dec-2018 12-Dec-2021 87.2 2 2 4 0
5 Ms. PRIYA BALASUBRAMANIAN 02446942 Non-Executive - Independent Director Not Applicable 29-Oct-1975 No Active NA 12-Dec-2018 12-Dec-2021 87.2 1 1 4 1
6 Mr. SUNEET K MAHESHWARI 00420952 Non-Executive - Independent Director Not Applicable 21-Apr-1958 No Active NA 12-Dec-2018 12-Dec-2021 87.2 2 2 6 3



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00420952 SUNEET K MAHESHWARI Non-Executive - Independent Director Chairperson 19-Dec-2018
2 02011292 AJIT KUMAR JAIN Non-Executive - Independent Director Member 19-Dec-2018
3 02446942 PRIYA BALASUBRAMANIAN Non-Executive - Independent Director Member 19-Dec-2018



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 02011292 AJIT KUMAR JAIN Non-Executive - Independent Director Chairperson 19-Dec-2018
2 02446942 PRIYA BALASUBRAMANIAN Non-Executive - Independent Director Member 19-Dec-2018
3 00420952 SUNEET K MAHESHWARI Non-Executive - Independent Director Member 19-Dec-2018
4 00549994 JOSE JACOB KALLARAKAL Executive Director Member 19-Dec-2018



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 02446942 PRIYA BALASUBRAMANIAN Non-Executive - Independent Director Chairperson 19-Dec-2018
2 02011292 AJIT KUMAR JAIN Non-Executive - Independent Director Member 19-Dec-2018
3 00420952 SUNEET K MAHESHWARI Non-Executive - Independent Director Member 19-Dec-2018
4 00549994 JOSE JACOB KALLARAKAL Executive Director Member 19-Dec-2018



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 00549994 JOSE JACOB KALLARAKAL ED Chairperson 11-Aug-2021
2 00122525 SHIJU JACOB KALLARAKAL ED Member 11-Aug-2021
3 02470660 SHIJU ANTONY KALLARAKAL NED Member 21-Dec-2021
4 02011292 AJIT KUMAR JAIN ID Member 11-Aug-2021
5 02446942 PRIYA BALASUBRAMANIAN ID Member 11-Aug-2021
6 00420952 SUNEET K MAHESHWARI ID Member 11-Aug-2021



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 31-Oct-2025 Yes 6 6 3
2 30-Jan-2026 90 Yes 6 6 3
3 25-Mar-2026 53 Yes 6 6 3



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 30-Oct-2025 Yes 3 3 3 0
2 Audit Committee 30-Jan-2026 91 Yes 3 3 3 0
3 Audit Committee 25-Mar-2026 53 Yes 3 3 3 0
4 Nomination and remuneration committee 30-Jan-2026 Yes 4 4 3 0
5 Nomination and remuneration committee 25-Mar-2026 Yes 4 4 3 0
6 Risk Management Committee 08-Dec-2025 Yes 6 5 3 0
7 Stakeholders Relationship Committee 08-Dec-2025 Yes 4 4 3 0



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Harshada Rane
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Annexure II to be submitted by listed entity at the end of the financial year (for the whole of financial year)
I. Disclosure on website in terms of LODR Regulation
Sr Item Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here. Web address
1.1 Details of business Yes https://www.antony-waste.com/our-story/about-us/
1.2 Memorandum of Association and Articles of Association Yes https://www.antony-waste.com/docs/investors/investor_info/investor_down/AWHCL_MOA_and_AOA.pdf
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.antony-waste.com/our-story/board-of-directors/
2 Terms and conditions of appointment of independent directors Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/AWHCL%20_Sample_of_Letter_of_Appointment_of_Independent_Directors.pdf
3 Composition of various committees of board of directors Yes https://www.antony-waste.com/investors/corporate-governance/
4 Code of conduct of board of directors and senior management personnel Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/CoC_for_Board_of_Directors.pdf
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Vigil_Mechanism_Policy.pdf
6 Criteria of making payments to non-executive directors Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Criteria_for_payment_to_Directors.pdf
7 Policy on dealing with related party transactions Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Policy_on_RPT.pdf
8 Policy for determining material subsidiaries Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Material_Subsidiary_Policy.pdf
9 Details of familiarization programmes imparted to independent directors Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Familarisation_Programme_of_IDs.pdf
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.antony-waste.com/contact-us/
11 Email address for grievance redressal and other relevant details Yes https://www.antony-waste.com/contact-us/
12 Financial results Yes https://www.antony-waste.com/investors/financial/
13 Shareholding pattern Yes https://www.antony-waste.com/investors/corporate-governance/
14 Details of agreements entered into with the media companies and/or their associates NA
15.1 Schedule of analyst or institutional investor meet and presentation prepared by listed entity for analyst or institutional investor meet Yes https://www.antony-waste.com/investors/corporate-announcements/
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://www.antony-waste.com/investors/financial/
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.antony-waste.com/investors/corporate-announcements/
18 Credit rating or revision in credit rating obtained Yes https://www.antony-waste.com/investors/corporate-announcements/
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.antony-waste.com/investors/subsidiaries/
20 Secretarial compliance report Yes https://www.antony-waste.com/investors/corporate-announcements/
21 Materiality policy as per regulation 30 (4) Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Policy_on_Materiality_of_Information_and_Events.pdf
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://www.antony-waste.com/investors/investor-information/
23 Disclosures under regulation 30(8) Yes https://www.antony-waste.com/investors/corporate-announcements/
24 Statements of deviation(s) or variations(s) as specified in regulation 32 NA
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.antony-waste.com/docs/investors/corporate-governance/policies/Dividend_Distribution_Policy.pdf
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.antony-waste.com/investors/annual-reports/
26.2 Employee benefit scheme documents framed in terms of SEBI (SBEB) regulations 2021
27 Confirmation that the above disclosures are in a separate section as specified in regulation 46(2) Yes https://www.antony-waste.com/investors/disclosure/
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.antony-waste.com/investors/disclosure/
29 Disclosure of notes on website in terms of Listing Regulations explanatory


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) NA
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) Yes
35 Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
36 Alternate Director to Independent Director 25(1) NA
37 Maximum Tenure 25(2) Yes
38 Appointment, Re-appointment or removal of an Independent Director through special resolution or the alternate mechanism 25(2A) Yes
39 Meeting of independent directors 25(3) & (4) Yes
40 Familiarization of independent directors 25(7) Yes
41 Declaration from Independent Director 25(8) & (9) Yes
42 Directors and Officers insurance 25(10) Yes
43 Confirmation with respect to appointment of Independent Directors who resigned from the listed entity 25(11) NA
44 Memberships in Committees 26(1) Yes
45 Affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel 26(3) Yes
46 Policy with respect to Obligations of directors and senior management 26(2) & 26(5) Yes
47 Approval of the Board and shareholders for compensation or profit sharing in connection with dealings in the securities of the listed entity 26(6) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) NA
Any other information to be provided - Add Notes



Annexure II
III. Affirmations
Sr Particulars Compliance status (Yes/No/NA)
1 The Listed Entity has approved Material Subsidiary Policy and the Corporate Governance requirements with respect to subsidiary of Listed Entity have been complied Yes
Any other information to be provided



Annexure II
1 Name of signatory Harshada Rane
2 Designation Company Secretary and Compliance Officer



Additional Half yearly Disclosure
Any Other Information for Disclosure of Loans / Guarantees / Comfort Letters / Securities Etc.
I. Disclosure of Loans/ guarantees/comfort letters /securities etc.refer note below
(A)Any loan or any other form of debt advanced by the listed entity directly or indirectly to
Entity Aggregate amount advanced during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(B) Any guarantee / comfort letter (by whatever name called) provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed By
Entity Type (guarantee, comfort letter etc.) Aggregate amount of issuance during six months Balance outstanding at the end of six months(taking into account any invocation)
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(C) Any security provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed by
Entity Type of security (cash, shares etc.) Aggregate value of security provided during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(D) Additional Information
II. Affirmations
Affirmations Compliance Status Company Remarks
All loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with any loan(s) (or other form of debt) given directly or indirectly by the listed entity to promoter(s), promoter group, director(s) (including their relatives), key managerial personnel (including their relatives) or any entity controlled by them are in the economic interest of the company. $intratedCg.get("CG_YN_$!integratedFillingMasterDto.cgMasterVO.anx4aAffirmComplStatus")
Name
Designation
Place
Date



Signatory Details
Name of signatory Harshada Rane
Designation of person Company Secretary and Compliance Officer
Place Thane
Date 27-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 0
No. of investor complaints received during the Quarter 0
No. of investor complaints disposed off during the Quarter 0
No. of investor complaints those remaining unresolved at the end of the Quarter 0


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 Bhiwandi Nizampur City Municipal Corporation 21-Mar-2013 Bhiwandi Nizampur City Municipal Corporation (BNCMC) had illegally terminated the contract, which was challenged by the client in court. Due to the repeated breaches and noncompliance of the terms of the Agreement, our Company, on March 21, 2013, invoked arbitration between the parties and claimed loss of profit for illegal termination and violation of contract agreement. The arbitrator has accepted the claims of ₹ 15 crore with interest and rejected balance 4 claims. Hence, petition was filed in Hon’ble High Court to reconsider the pending 4 claims. In the meantime, BNCMC has agreed to pay ₹ 15 Crore and settle the issue. The said settlement proposal put up by the municipal commissioner was approved and consent terms were executed and thereafter an interim application was filed in the Bombay High Court for recording the compromise. By an order dated July 3, 2020, the Bombay High Court recorded the compromise and the accordingly arbitration petitions were disposed off. While disposing off the petitions, the Bombay High Court observed that none of the observations of the arbitrator concerning either parties survived any longer. Hon’ble High Court on 05.03.2021 passed final order rejected the submission of the Corporation that the compromise was not interest of the Corporation and gave order that compromise approved by the Standing Committee was valid. Therefore, BNCMC filed a case on 24.08.2021 in Hon’ble Supreme Court of India against the Hon’ble High Court Order. The matter was not heard on February 03, 2026, and has been adjourned multiple times since. It is next listed for hearing on April 28, 2026.
2 Income Tax Department 15-Oct-2021 The Income Tax Department conducted searches at two of the Company’s business premises and certain Directors’ residences in October 2021 under the Income-tax Act, 1961 (‘IT Act’). The Company fully cooperated during and after the proceedings. Until 31 March 2024, the Holding Company and its two subsidiary companies received demand orders u/s 143(3) and 147 of the IT Act, in respect of six different assessment years ('AY') ranging between AY 2015-16 and AY 2022-23 primarily related to expense disallowances. After considering all the available records and information, appeals against these demand orders were filed with the Commissioner of Income Tax (Appeals). The respective companies also filed rectification application with the Assessing Officer in respect of certain adjustments made by them for four different assessment years. During the year ended 31 March 2025, Holding Company and its subsidiary received demand orders u/s 147 for AY 2019-20 and AY 2020-21 relating to similar expense disallowances. Management have filed appeals and rectification applications, as applicable, with CIT(A) and AO, respectively, against these demand orders. Further, favorable rectification orders are received for AY 2017-18 (one subsidiary) and AY 2021-22 (Holding Company and its two subsidiaries). While the outcome of these proceedings remains uncertain, respective management, after consulting external experts on its tax position and reviewing all available relevant documentation, believes their position is well-supported. Accordingly, no material adjustments have been made in these financial results. The Company received demand order of Rs. 51 lakh u/s 154 r.w.s. 147 against rectification order for AY 2020-21. The Company has responded on the erroneous calculation of demand. Hearings and submissions are in process for other assessment years.
3 Vanashakti and Anr 02-May-2025 The Bombay High Court vide its judgement dated May 2, 2025, in PIL No. 20 of 2013, set aside the 2009 de-notification of approximately 120 hectares at the Kanjurmarg landfill, thereby restoring its status as a 'protected forest' under the Forest Conservation Act, 1980 and the Indian Forest Act, 1927. The Court found the de-notification ultra vires for non-compliance with statutory procedure, holding that the 2008 notification conferring protected mangrove forest status was based on due process and factual assessment, not clerical error as suggested by the State of Maharashtra and Brihanmumbai Municipal Corporation (‘BMC’). The BMC is directed to effectuate restoration of forest status within three months, during which waste disposal may continue. Municipal solid waste (MSW) management, including collection, transportation, treatment, and disposal, is considered an essential service under the Essential Services Maintenance Act, 1981. This order significantly impairs Mumbai’s waste management regime, as the Kanjurmarg site processes approximately 90% of the city’s solid waste and no immediate alternative exists. The State of Maharashtra and BMC intend to challenge the order before the Supreme Court, while landfill operations and Concessionaire i.e. Antony Lara Enviro Solutions Private Limited, a material subsidiary company’s rights and protections under the Concession Agreement remain intact, which includes seeking compensation for losses from premature cessation, decommissioning costs, third-party claims, invested capital, and foregone revenue for the remaining concession period. The material subsidiary was not a party to the referenced judgment, and operations at the Kanjurmarg site remain unaffected, with the continuous and uninterrupted receipt of Municipal Solid Waste (MSW). Additionally, as of today, the material subsidiary has not received any notice or communication from BMC suggesting a potential halt in operations, a requirement to prepare for relocation, or any directive that could lead to adverse financial implications due to such relocation. The Hon’ble Supreme Court of India has stayed the Bombay High Court’s order dated May 2, 2025 (PIL No. 20/2013), following a Special Leave Petition by Antony Lara Enviro Solutions Private Limited, our material subsidiary along with Government of Maharashtra and Brihanmumbai Municipal Corporation. The High Court’s order had revoked the 2009 de-notification of 120 hectares at the Kanjurmarg landfill, restoring its status as ‘protected forest’ and directing the BMC to implement this within three months, while permitting ongoing waste disposal during this period. As this site handles nearly 90% of Mumbai’s solid waste, the order presented significant operational challenges. The matter was not taken up on February 25, 2026, and has accordingly been scheduled for the next hearing on May 04, 2026.