Godrej Agrovet Limited has informed stock exchanges about an action initiated by the Income Tax Department. Specifically, the Assistant Commissioner of Income Tax issued a notice to HDFC Bank regarding a demand of ₹41,36,010/-. This demand relates to late payment interest and levy under the Income Tax Act, 1961. The company received the communication on February 23, 2026, and stated there is no material impact on operations while filing a correction statement.
Disclosure of Regulatory Action
Pursuant to regulatory requirements, Godrej Agrovet Limited has disclosed details concerning an action taken by the Income Tax Department, Ministry of Finance, Government of India. The company confirms receiving communication regarding this matter on February 23, 2026.
Details of the Notice Issued
The Office of the Assistant Commissioner of Income Tax has issued a formal Notice under Section 226(3) of the Income Tax Act, 1961. This notice was directed to HDFC Bank Limited, instructing payment of Rs. 41,36,010/-. This amount is specified to cover liabilities including late payment interest, late filing levy, and interest under Section 220(2) of the Income Tax Act, 1961.
Company Response and Impact Assessment
Godrej Agrovet Limited confirmed that the alleged contraventions or violations are Not Applicable in this specific disclosure context. Furthermore, the company has explicitly stated that there is no material impact on the financial operations or other activities of the entity resulting from the demand outlined in the said Notice. In response, the Company is currently in the process of filing a correction statement with the Income Tax Authority.
The formal intimation was made public on February 24, 2026.
Source: BSE
