Nesco Limited received notices under Section 162 (2) and 216 (B) of the Mumbai Municipal Corporation Act, 1888. Notices received on 25 July 2025. There was delay in dissemination of information within prescribed timelines as there was no clarity on the amount of fee and/or penalty and the Company was seeking confirmation of the facts with the BMC authorities.
6 August 2025 the BMC authorities have informed the company to consider the amount as penalty for now, unless further clarification is provided by them in due course. Authority from whom communication received: Brihanmumbai Municipal Corporation Assessment and Collection Department. Notice for payment of assessment tax in respect of properties situated at Goregaon (E), Mumbai - 400063 including penalty of INR 25,899,183/-.
Period for which the communication: Fiscal Year 2015-16 - Fiscal Year 2025-26. Delay in payment of earlier years assessment tax assessed by BMC due to retrospective change in area, change in capital value and change in the use of area. The Company has denied the payment of the demand as the same is incorrect and has sought further details and clarifications from the BMC.
