Stock exchange reporting of tax litigations made less taxing
Disclosure in 24 hours for new matters; updates of ongoing litigations in Integrated Filing (Governance)
– Nitu Poddar, Partner and Simrat Singh, Executive | corplaw@vinodkothari.com
Based on the recommendation of the Expert Committee for facilitating EODB, SEBI, vide Circular dated December 31, 2024 have made a distinction in stock exchange disclosure relating to tax litigations and non-tax litigations. While matters pertaining to “new” tax litigations are required to be disclosed based on materiality under Reg 30(4), updates on such “ongoing” / existing tax litigations are supposed to be disclosed quarterly in the Integrated Filing (Governance). In this note1, we discuss the probable questions that may come up around this disclosure.
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