NSEUpdates2 Jul 2026 · 2 Jul 2026, 01:58 pm

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Bannari Amman Sugars Limited · BANARISUG

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Bannari Amman Sugars Limited has received a copy of the proceedings of the District Collector, Erode, directing recovery of Rs.12,72,30,170/- under Section 5 of the Revenue Recovery Act, 1864, towards Tax and interest alleged to be payable under Tamil Nadu Tax on Consumption or Sale of Electricity Act, 2003.

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Growth Catalyst1/10
Governance Concern1/10
Regulatory Risk8/10
Balance Sheet Risk2/10
Liquidity Impact5/10
Market Sentiment4/10

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Bannari Amman Sugars Limited has informed the Exchange regarding 'Order received from the District Collector, Erode District, Tamilnadu'.

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BANARISUG_02072026135434_CollectorOrder02072026.pdf

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BANNARI AMMAN SUGARS LIMITED Regd. Office : 1212, Trichy Rood Coimbatore - 641 018 Tomilnadu India Phone : 91 - 422 — 2204100 Fox : 2309999 [Soles) 2204222 (Purchase) 2204233 (Accounts) E-Moil : boscbe@bonnori.com Websiie : www.bonnori.com CIN : L15421TZ1983PLC001358 SEC/ MAIL /2026 02.07.2026 National Stock Exchange of India Ltd Bombay Stock Exchange Limited Exchange Plaza Phiroze Jeejeebhoy Towers C-1, Block G Dalal Street Bundera-Kurla Complex, Bandra (E) Mumbai - 400 001 Mumbai - 400051 NSE CODE : BANARISUG BSE CODE : 500041 ISIN No. : INE459A01010 ISIN No. : INE459A01010 Dear Sirs, Sub: Disclosure under Regulation 3O of the SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015 ***** 'Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the company’s sugar unit at Alathukombai Village Sathyamangalam Taluk, Erode has received a copy of the proceedings of the District Collector, Erode addressed to the Tahsildar, Sathyamangalam directing recovery of a sum of Rs.12,72,30,170/- (Rupees Twelve Crores Seventy Two Lakhs Thirty Thousand and One Hundred a‘nd Seventy) under Section 5 of the Revenue Recovery Act, 1864 towards Tax and interest alleged to be payable under Tamil Nadu Tax on Consumption or Sale of Electricity Act, 2003. In this connection, the company had filed a Writ Petition W.P No.7397 of 2005 challenging the levy of tax under the Tamil Nadu Consumption or Sale of Electricity Act, 2003. The said Writ Petition was allowed by the Hon’ble High Court order dated 8.3.2012, subject to outcome of other writ petitions challenging the amendments made to the said Act. The Energy Department has not preferred any appeal against the said order of the Hon’ble High Court. Subsequently, the Writ Petitions filed by certain other parties challenging the amendment were dismissed. Appeals by way of Special Leave Petitions have filed before the Hon’ble Supreme Court by some of the affected parties while certain others have filed review petitions. The Special Leave Petitions are presently pending consideration before the Hon’ble Supreme Court. .................. Sheet Continuation Limited Amman Sugars Banncri Coimbatore Court, Supreme Hon’ble before of the aforesaid view of the proceedings pendency to Government, Inspector Electrical the Chief 2019, requested during Company, year until recovery Erode, defer District Collector, and the Tamil Nadu proceedings Court. Hon’ble Supreme by the finally decided issues into after taking Erode, Collector, then District 2019, the Accordingly, year Hon’ble and the High Court Hon’ble before consideration proceedings pendency Revenue under initiated recovery revenue withdrew Court, Supreme proceedings Act. Recovery recovery fresh initiated has now Erode, District Collector, However, proceedings present amount aforesaid of the recovery 1864, for Act, Recovery Revenue under 'Rs.12,72,30,170/- Hundred Thousand Thirty Lakhs Seventy Twelve Crores (Rupees only). and Seventy legal appropriate evaluating its legal counsel is consulting The Company presently authority Government appropriate filing an appeal before including available remedies Hon’ble and/or High Court Hon’ble before the appropriate initiating and/or proceedings challenge legal valid it has believes that Court. The Company Supreme grounds interests. steps all appropriate will take aforesaid protect proceedings the SEBI 30 of Regulation with made in compliance is being disclosure above (Listing 2015. Regulations, Requirements) Disclosure Obligations on record. details take the above Kindly Thanking you, faithfully, Yours LIMITED AMMAN SUGARS BANNARI PALANISWAMY) OFFICER & COMPLIANCE SECRETARY COMPANY Encl: Annexure Order from the District Collector, Erode District Particulars S.No Details 1 Name of the listed company Bannari Amman Sugars Limited 2 Type of communication received Recovery the Revenue under Recovery proceedings Act, 1864 3 Date receipt of of communication 01.07.2026 Authority from whom District Collector, Erode District, Tamilnadu communication received Brief 5 summary of the material company has received a copy of contents of the communication District from the Collector, Erode proceedings received, including reasons for addressed to the Tahsildar, Sathyamangalam receipt of the communication directing recovery Rs.12,72,30,170/- of a sum of Twelve Two Lakhs Crores Seventy Thirty (Rupees Thousand Hundred and Seventy) and One under Section 5 of the Revenue Recovery Act, 1864 towards Tax and interest alleged to be payable under Tamil Tax Nadu on Consumption or Sale of Electricity Act, 2003. this connection, the company had filed a Writ Petition W.P No.7397 of 2005 challenging the levy tax under the Tamil Nadu Consumption or Sale Electricity Act, 2003. The said Writ Petition allowed Hon’ble High by the Court order dated 8.3.2012, subject to outcome of other writ petitions made challenging the amendments to the said Act. The Energy has not Department any preferred Hon’ble appeal against the said order of the High Court. Petitions filed Subsequently, the Writ by certain other the amendment were challenging parties Leave Petitions dismissed. Appeals by way of Special Hon’ble have filed before the Supreme Court by while certain some of the affected others parties have The Leave filed review Special petitions. Petitions consideration pending presently Hon’ble Court. before the Supreme In of the aforesaid view of the pendency Hon’ble Supreme Court, before the the proceedings Company, 2019, requested the Chief during the year Tamil Electrical Inspector to Government, Nadu and District Erode, to defer any recovery the Collector, finally until the issues are decided by proceedings Hon’ble the Supreme Court. ..2.. Accordingly, in the 2019, the then District year Erode, Collector, after taking into consideration the of the the before pendency proceedings Hon’ble High Court and the Hon’ble Supreme Court, withdrew the revenue recovery initiated under the Revenue Recovery proceedings Act. However, the District Erode, Collector, present fresh has now initiated recovery proceedings Revenue Recovery under the Act, 1864, for recovery of the aforesaid of amount Rs.12,72,30,170/- Twelve Crores Seventy (Rupees Two Lakhs Thirty Thousand One Hundred and only). Seventy Period for June 2003 to March 2016 6 which communication would if be applicable, stated 7 Expected Rs.12,72,30,170/- financial implications on the listed if any company, Details Not Applicable 8 of any aberrations/non- compliances identified by the authority in the communication 9 Details Not Applicable of any or penalty restriction or sanction imposed to the communication pursuant 1O Action(s) taken by listed company is The Company consulting its legal presently withrespectin the communication legal counsel and evaluating the appropriate remedies available including filing appeal before the appropriate Government authority initiating appropriate and/or before proceedings the Hon’ble High Court and/or the Hon’ble The Company it has Supreme Court. believes that to challenge valid legal the aforesaid grounds and will take all appropriate steps proceedings its interests. protect 11 Any relevant information NIL other