Updater Services logo

Updater Services MD, chairman, board of directors and AGM

NSE: UDSBSE: 543996Commercial Services & SuppliesSmall Cap

Last close ₹195.22down ₹17.30 (8.14%)BSE ₹196.15

Share price at the NSE close on 23 Oct 2026. Previous close ₹212.52.

52-week range of traded prices to 23 Oct 2026
₹125.10Low, 30 Mar 2026₹241.00High, 23 Oct 2025
Market cap
₹1,307 Cr1,439th largest listed
P/E
15.1
P/B
1.2
Dividend yield
0.51%
ROE
8.6%
ROCE
8.5%
Debt to equity
0.00
Volume, NSE
1,83,60335.4% delivered

Updater Services board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorRAGHUNANDANA TANGIRALA
  • Company Secretary and Compliance OfficerSandhya Saravanan

6 directors3 independent3 executive

  • RAGHUNANDANA TANGIRALA · Chairperson and managing directorExecutive · joined Nov 2003 · reappointed Jan 2024 · 1 listed board · 3 committee seats
  • AMITABH JAIPURIAExecutive · joined Mar 2023 · 1 listed board
  • AMIT CHOUDHARYIndependent · joined Apr 2020 · reappointed Sep 2022 · 77 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • SUNIL REWACHAND CHANDIRAMANIIndependent · joined Jun 2017 · reappointed Sep 2022 · 111 months as independent · 4 listed boards · 4 as independent · 7 committee seats, 3 as chair
  • SANGEETA SUMESHIndependent · joined Sep 2022 · 48 months as independent · 1 listed board · 1 as independent · 5 committee seats, 1 as chair
  • JIGYASA SHARMAExecutive · joined Apr 2024 · reappointed Oct 2024 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 30 Jul 20266 of 6 present3 independent · 62 days in between
    • 28 May 20266 of 6 present3 independent

  • Audit Committee

    Chair SUNIL REWACHAND CHANDIRAMANI

    AMIT CHOUDHARY, RAGHUNANDANA TANGIRALA, SANGEETA SUMESH

    • 10 Aug 20263 of 4 present3 independent · 10 days in between
    • 30 Jul 20264 of 4 present3 independent · 62 days in between
    • 28 May 20263 of 4 present2 independent

  • Nomination and remuneration committee

    Chair AMIT CHOUDHARY

    RAGHUNANDANA TANGIRALA, SUNIL REWACHAND CHANDIRAMANI, SANGEETA SUMESH

    • 10 Aug 20264 of 4 present3 independent · 73 days in between
    • 28 May 20263 of 4 present2 independent

  • Stakeholders Relationship Committee

    Chair SANGEETA SUMESH

    RAGHUNANDANA TANGIRALA, JIGYASA SHARMA

    No meeting listed in the filing.

  • Risk Management Committee

    Chair SUNIL REWACHAND CHANDIRAMANI

    AMITABH JAIPURIA, JIGYASA SHARMA, CR SARAVANAN, RAM PRAVEEN RADHAKRISHNAN

    • 18 Sep 20263 of 3 present1 independent · 38 days in between

  • Corporate Social Responsibility Committee

    Chair RAGHUNANDANA TANGIRALA

    SANGEETA SUMESH, JIGYASA SHARMA

    No meeting listed in the filing.

  • IPO Committee

    Chair RAGHUNANDANA TANGIRALA

    No meeting listed in the filing.

  • IPO COmmittee

    AMITABH JAIPURIA

    No meeting listed in the filing.

  • ESG Committee

    Chair RAGHUNANDANA TANGIRALA

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Jun 2026.

  • BSR & CO LLPPeer-review certificate valid to Jul 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Updater Services AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Updater Services dividend history

Annual general meeting, 25 Aug 2026

47,979 shareholders on the register on 19 Aug 2026; present: 8 promoters and 39 others; votes counted by M. ALAGAR / M/S. ALAGAR & ASSOCIATES LLP.The company's voting result (opens in a new tab)

  1. 1. To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Board of Directors and the Auditors thereon;MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 70.63% · promoters 100.00% · institutions 76.49% · other public 5.92%

  2. 2. To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: a) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    Ordinary
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.75% · other public 0.03%

    Turnout: all 70.63% · promoters 100.00% · institutions 76.49% · other public 5.92%

  3. 3. Re-appointment of Mrs. Jigyasa Sharma (DIN: 10474292), Executive Director of the Company, liable to retire by rotation.
    OrdinaryPromoters have an interest in it
    89.48% for10.52% against

    Against: promoters 0.00% · institutions 75.18% · other public 0.03%

    Turnout: all 70.63% · promoters 100.00% · institutions 76.49% · other public 5.92%

  4. 4. Re-appointment of Mr. Raghunandana Tangirala (DIN: 00628914) as Chairperson & Managing Director of the Company for a period of five (5) years commencing from January 01, 2027, to December 31, 2031.
    SpecialPromoters have an interest in it
    87.84% for12.16% against

    Against: promoters 0.00% · institutions 87.54% · other public 0.03%

    Turnout: all 70.55% · promoters 100.00% · institutions 75.91% · other public 5.92%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 25 Jun 2026, 1 resolution

49,112 shareholders on the register on 22 May 2026; votes counted by D. Saravanan / M/s. Alagar & Associates LLP.The company's voting result (opens in a new tab)

  1. To consider and approve the change in designation of Mr. Amitabh Jaipuria (DIN: 01864871) from Non-Executive Director to Senior Executive Director and his appointment as Whole-time Director and Key Managerial Personnel.MoreLess
    Special
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 0.18% · other public 8.68%

    Turnout: all 74.81% · promoters 100.00% · institutions 87.42% · other public 6.86%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 8 Aug 2025, 5 resolutions

51,937 shareholders on the register on 1 Aug 2025; present: 5 promoters and 36 others; votes counted by M ALAGAR / M ALAGAR & ASSOCIATES LLP.The company's voting result (opens in a new tab)

  1. To receive, consider, approve and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Report of the Board of Directors and the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 74.34% · promoters 100.00% · institutions 86.11% · other public 5.21%

  2. Re-appointment of Mr. Raghunandana Tangirala (DIN: 00628914), Managing Director and Chairperson of the Company, liable to retire by rotation
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.16% · other public 0.14%

    Turnout: all 74.34% · promoters 100.00% · institutions 86.11% · other public 5.21%

  3. To appoint Ms. A.K Jain and Associates (FRN: P2000TN000100), Practising Company Secretaries, Chennai as the Secretarial Auditors of the Company to hold office for a period of 5 (Five) consecutive financial years, commencing from April 01, 2025, until March 31, 2030MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 74.34% · promoters 100.00% · institutions 86.11% · other public 5.21%

  4. To approve the payment of remuneration to Mrs. Jigyasa Sharma (DIN: 10474292), Executive Director of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 74.34% · promoters 100.00% · institutions 86.11% · other public 5.21%

  5. To consider and approve the Payment of Commission not exceeding 1 percentage of the Standalone Net Profits of the Company to Non-Executive Directors of UDS for the Financial Year 2025-26.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.20%

    Turnout: all 74.34% · promoters 100.00% · institutions 86.11% · other public 5.21%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 24 Apr 2025, 3 resolutions

45,929 shareholders on the register on 21 Mar 2025; votes counted by M Alagar / M Alagar & Associates.The company's voting result (opens in a new tab)

  1. To increase the limits under Section 186 of the Companies Act, 2013 for giving loans or providing guarantees or making investments
    Special
    85.70% for14.30% against

    Against: promoters 0.00% · institutions 96.53% · other public 0.29%

    Turnout: all 70.78% · promoters 100.00% · institutions 58.29% · other public 6.09%

  2. Extension of “Updater Employee Stock Option Plan 2019” to the employees of Group, Subsidiary, Associate, Holding Company(ies) (present and future, if any) of the Company
    Special
    85.70% for14.30% against

    Against: promoters 0.00% · institutions 96.53% · other public 0.32%

    Turnout: all 70.78% · promoters 100.00% · institutions 58.29% · other public 6.09%

  3. Extension of “Updater Employee Stock Option Plan 2022” to the employees of Group, Subsidiary, Associate, Holding Company(ies) (present and future, if any) of the Company
    Special
    85.69% for14.31% against

    Against: promoters 0.00% · institutions 96.53% · other public 0.47%

    Turnout: all 70.78% · promoters 100.00% · institutions 58.29% · other public 6.09%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 12 Dec 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Appointment of Ms. Jigyasa Sharma (DIN: 10474292) as an Executive Director of the Company
    SpecialPromoters have an interest in it
    88.58% for11.42% against

    Against: promoters 0.00% · institutions 51.95% · other public 0.02%

    Turnout: all 77.40% · promoters 100.00% · institutions 91.21% · other public 6.66%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 3 Nov 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Special Resolution in terms of Section 233(1)(b) of the Companies Act, 2013
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 76.69% · promoters 100.00% · institutions 75.22% · other public 16.40%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 8 Jul 2024, 4 resolutions

Present: 3 promoters and 41 others.The company's voting result (opens in a new tab)

  1. Adoption of Financial Statements - To receive, consider, approve and adopt the Audited Standalone Financial Statements along with the Reports of the Board of Director and Auditors of the Company for the financial year ended March 31, 2024.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 76.69% · promoters 100.00% · institutions 57.88% · other public 32.68%

  2. Adoption of Financial Statements - To receive, consider, approve and adopt the Audited Consolidated Financial Statements along with the Reports of the Auditors of the Company for the financial year ended March 31, 2024MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 76.69% · promoters 100.00% · institutions 57.88% · other public 32.68%

  3. Appointment/ Re-appointment of Director - To appoint Mr. Amitabh Jaipuria (DIN: 01864871) who retires by rotation, as a Director of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 76.69% · promoters 100.00% · institutions 57.88% · other public 32.68%

  4. Payment of Commission to Independent Directors - To consider and approve the Payment of Commission to Mr Sunil Rewachand Chandiramani, Non-Executive Independent Director – Note: Period - April, 01, 2024 to March 31, 2025. Commission to be paid - as per NRC recommendation subject to not exceeding 1% of net profits of the Company calculated in accordance with the provisions of Section 198 of the ActMoreLess
    Special
    92.53% for7.47% against

    Against: promoters 0.00% · institutions 57.01% · other public 0.01%

    Turnout: all 76.69% · promoters 100.00% · institutions 57.88% · other public 32.68%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 1 Jun 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Appointment of Ms. Jigyasa Sharma (DIN: 10474292) as the Non-Executive Non-Independent Director of the Company
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 71.42% · promoters 91.49% · institutions 54.12% · other public 34.01%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 25 Aug 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • 1. To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Board of Directors and the Auditors thereon;MoreLess
    1 for0 against
  • 2. To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution: a) the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Auditors thereon.MoreLess
    1 for0 against
  • 3. Re-appointment of Mrs. Jigyasa Sharma (DIN: 10474292), Executive Director of the Company, liable to retire by rotation.
    1 for0 against
  • 4. Re-appointment of Mr. Raghunandana Tangirala (DIN: 00628914) as Chairperson & Managing Director of the Company for a period of five (5) years commencing from January 01, 2027, to December 31, 2031.
    Against ICICI Prudential Mutual Fund
    • ICICI Prudential Mutual FundWhile the AMC supports reappointment, however since there is no absolute cap on the variable remuneration, Hence, the AMC has voted against the resolution.
    0 for1 against

Mutual fund votes, meeting of 25 Jun 2026, 2 fund houses

  • To consider and approve the change in designation of Mr. Amitabh Jaipuria (DIN: 01864871) from Non-Executive Director to Senior Executive Director and his appointment as Whole-time Director and Key Managerial Personnel.MoreLess
    2 for0 against
6 earlier meetings

Mutual fund votes, meeting of 8 Aug 2025, 2 fund houses

  • To receive, consider, approve and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Report of the Board of Directors and the Auditors thereon.MoreLess
    2 for0 against
  • Re-appointment of Mr. Raghunandana Tangirala (DIN: 00628914), Managing Director and Chairperson of the Company, liable to retire by rotation
    2 for0 against
  • To appoint Ms. A.K Jain and Associates (FRN: P2000TN000100), Practising Company Secretaries, Chennai as the Secretarial Auditors of the Company to hold office for a period of 5 (Five) consecutive financial years, commencing from April 01, 2025, until March 31, 2030MoreLess
    2 for0 against
  • To approve the payment of remuneration to Mrs. Jigyasa Sharma (DIN: 10474292), Executive Director of the Company
    2 for0 against
  • To consider and approve the Payment of Commission not exceeding 1 percentage of the Standalone Net Profits of the Company to Non-Executive Directors of UDS for the Financial Year 2025-26.
    2 for0 against

Mutual fund votes, meeting of 24 Apr 2025, 2 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Extension of “Updater Employee Stock Option Plan 2019” to the employees of Group, Subsidiary, Associate, Holding Company(ies) (present and future, if any) of the Company
    Against Bandhan Mutual Fund, ICICI Prudential Mutual Fund
    • Bandhan Mutual FundNon-Compliant under SEBI SBEB Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Significant benefit arising to a single employee; No cap on maximum number of options that can be granted per employee in ESOP Scheme 2022; Accelerated Vesting. Transparency concern: Benefit extended to Holding and Associate Companies without justification or cost reimbursement provision.
    • ICICI Prudential Mutual FundTh AMC do not support extension of schemes to associate companies, as these associates may have their own ESOP Schemes currently or in the future.Hence, the AMC has voted against the resolution.
    0 for2 against
  • Extension of “Updater Employee Stock Option Plan 2022” to the employees of Group, Subsidiary, Associate, Holding Company(ies) (present and future, if any) of the Company
    Against Bandhan Mutual Fund, ICICI Prudential Mutual Fund
    • Bandhan Mutual FundNon-Compliant under SEBI SBEB Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Significant benefit arising to a single employee; No cap on maximum number of options that can be granted per employee in ESOP Scheme 2022; Accelerated Vesting. Transparency concern: Benefit extended to Holding and Associate Companies without justification or cost reimbursement provision.
    • ICICI Prudential Mutual FundTh AMC do not support extension of schemes to associate companies, as these associates may have their own ESOP Schemes currently or in the future.Hence, the AMC has voted against the resolution.
    0 for2 against
1 proposal not matched to one resolution
  • To grant loans to any person or other body corporate and/ or give any guarantee or provide security in connection with a loan to any person or other body corporate and/ or acquire by way of subscription, purchase or otherwise, the securities of any other body corporate up to an aggregate amount not exceeding Rs. 1,000/- Crores notwithstanding that the aggregate of the loans or guarantees or securities so far given or to be given and/ or securities so far acquired or to be acquired by the Company may exceed sixty per cent of its paid- up share capital, free reserves and securities premium account or one hundred per cent of its free reserves and securities premium account, whichever is more.MoreLess
    Against Bandhan Mutual Fund, ICICI Prudential Mutual Fund
    • Bandhan Mutual FundCompliant with the law. Governance Concern: Open ended resolution; Non-disclosure of specific plan for utilization of said limit.
    • ICICI Prudential Mutual FundThe company has stated in the notice that it is evaluating a series of investment proposals designed to enhance its business portfolio and support its growth. While we understand that the current approved limit is almost exhausted, The enabling nature of approval could allow the company to give loans / guarantees / provide securities upto Rs. 10.0 bn to any body corporate, including promoter companies. The company must disclose granular details including names of these companies, the nature and size of their operations and terms of support, to enable shareholders to make an informed decision. Given the lack of clarity, Hence, the AMC has voted against the resolution.
    0 for2 against

Mutual fund votes, meeting of 12 Dec 2024, 3 fund houses

  • Appointment of Ms. Jigyasa Sharma (DIN: 10474292) as an Executive Director of the Company
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund
    • Bandhan Mutual Fund, Edelweiss Mutual FundNon-compliance with Companies Act, 2013: Terms of remuneration not disclosed; Governance and Transparency concern: Discretionary power to the NRC and Board.
    1 for2 against

Mutual fund votes, meeting of 3 Nov 2024, 3 fund houses

  • Special Resolution in terms of Section 233(1)(b) of the Companies Act, 2013
    3 for0 against

Mutual fund votes, meeting of 8 Jul 2024, 3 fund houses

  • Adoption of Financial Statements - To receive, consider, approve and adopt the Audited Standalone Financial Statements along with the Reports of the Board of Director and Auditors of the Company for the financial year ended March 31, 2024.MoreLess
    3 for0 against
  • Adoption of Financial Statements - To receive, consider, approve and adopt the Audited Consolidated Financial Statements along with the Reports of the Auditors of the Company for the financial year ended March 31, 2024MoreLess
    3 for0 against
  • Appointment/ Re-appointment of Director - To appoint Mr. Amitabh Jaipuria (DIN: 01864871) who retires by rotation, as a Director of the Company
    3 for0 against
  • Payment of Commission to Independent Directors - To consider and approve the Payment of Commission to Mr Sunil Rewachand Chandiramani, Non-Executive Independent Director – Note: Period - April, 01, 2024 to March 31, 2025. Commission to be paid - as per NRC recommendation subject to not exceeding 1% of net profits of the Company calculated in accordance with the provisions of Section 198 of the ActMoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance Concern: No absolute cap on commission proposed. No specific justification for commission payment only to Mr. Chandiramani and no other NEDs.
    2 for1 against

Mutual fund votes, meeting of 1 Jun 2024, 4 fund houses

  • Appointment of Ms. Jigyasa Sharma (DIN: 10474292) as the Non-Executive Non-Independent Director of the Company
    4 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeTangy Supplies & Solutions Private Limited Vs. office of the Commercial Tax Officer, GSTSince 8 Apr 2024
    Appeal filed on 13-05-2024
    At the filing before: It is a regular GST Assessment notice calling for certain information, records and clarification. Notice ref.no: ZD330424064783C
  • Tax disputeStanworth Management Private Limited Vs. office of the Assistant Commissioner, Alwarpet, Tamil NaduSince 29 Apr 2024
    Appeal filed on 10-7-2024
    At the filing before: The order has been passed under section 73 of TNGST Act, 2017 amounting to Rs. 2,36,140/- The basis of order is reconciliation difference for Excess ITC claimed. The Subsidiary Company is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD330424243209LMoreLess
  • Tax disputeAvon Solutions & Logistics Private Limited Vs. office of Deputy Commissioner, Telangana GSTSince 30 Apr 2024
    Writ Filed on 12-02-2026
    At the filing before: The order has been passed under section 73 of TGST Act, 2017 amounting to Rs. 6,32,149/- The basis of order is reconciliation difference for Excess ITC claimed. Subsidiary Company is exploring all legal options including filing appeal before the Appellant authority Notice ref.No: ZD360424085500JMoreLess
  • Tax disputeUpdater Services Limited Vs. Central Board of Direct TaxesSince 5 Oct 2024
    The Company received the order for claiming the refund amount of Rs. 10,46,82,343.00
    At the filing before: The company has received a favourable order under section 119(2)(b) of the Income Tax Act, 1961 for assessment year 2019-20 with refund of INR 10,67,82,660. The Company is in the process of persuading and claiming the refundMoreLess
  • Tax disputeUpdater Services Limited Vs. office of the Assistant Commissioner, Puducherry GSTSince 10 Jul 2024
    Rectification letter filed on 02-08-2024
    At the filing before: The order has been passed under section 74 amounting to Rs. 63,723/- .it is a regular GST Assessment notice calling for certain information, records and clarification The company (Updater Services Limited ) is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No:ZD340724000436PMoreLess
  • Tax disputeUpdater Services Limited Vs. Deputy commissioner (CT) ST - III , Large Tax Payers Unit, Nandanam - GSTSince 9 Aug 2024
    Appeal filed on 08-11-2024
    At the filing before: The rectification order dated 09.08.2024 vide ref.no: ZD3308240766551, had reduced the amount to Rs 14,99,641 /- (inl. penalty). against original demand of Rs. 2,31,94,103/- (incl. penalty) The basis of order is reconciliation difference for Excess ITC claimed.Based on the company (Updater Services Limited)'s assessment, the Order is devoid of merits and the financial amount is expected to be NIL. The company (Updater Services Limited ) is exploring all legal options including filing appeal before the Appellant authority.MoreLess
  • Tax disputeUpdater Services Limited - office of Sales Tax Officer, Avato, Delhi GSTSince 17 Aug 2024
    Appeal filed on 15-11-2024
    At the filing before: The order has been passed under section 73 amounting to Rs. 2,89,373/- The basis of order is reconciliation difference for Output tax and Excess ITC claimed. Based on the Company's assessment, the Order is devoid of merits and the financial amount is expected to be NIL. The Company is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD0708240634068MoreLess
  • Tax disputeUpdater Services Limited office of Deputy Commissioner, DGSTO-5, Bengaluru, KarnatakaSince 20 Aug 2024
    Tribunal Appeal filed on 02-07-2026.
    At the filing before: The order has been passed under section 73 amounting to Rs. 1,21,63,262/- The basis of order is Non payment of GST on SEZ supplies. Based on the Company's assessment, the Order is devoid of merits and the financial amount i expected to be NIL. The Company is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD290824071981UMoreLess
45 more
  • Tax disputeAvon Solutions & Logistics Limited Vs. office of Assistant Commissioner, T Nagar, Tamil NaduSince 30 Aug 2024
    Writ Filed on 02-09-2025
    At the filing before: The order has been passed under section 73 amounting to Rs. 21,74,840/- The basis of order is reconciliation difference for Outward supply, Excess Claim of ITC on account of nonreconciliation of ITC and on exempt supplies. Based on the Avon's assessment, the Order is devoid of merits and the financial amount is expected to be NIL. The Subsidiary company Avon is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD330824283699OMoreLess
  • Tax disputeUpdater Services Limited Vs. office of Assistant Commissioner, Noida, UttarPradeshSince 30 Aug 2024
    Appeal filed on 26-07-2025
    At the filing before: The order has been passed under section 73 amounting to Rs. 18,57,291/- for the Tax period Apr 2019 - Mar 2020 The basis of order is reconciliation difference for Excess ITC utilized compare with GSTR 2A vs 3B, ITC availed against Cancelled Supplier, ineligible credit utilized and Late return filed against Interest.Notice ref No: ZD0908243373825MoreLess
  • Tax disputeUpdater Services Limited Vs. office of Superintendent, Ramavarappadu, Vijayawada, Andhra PradeshSince 30 Aug 2024
    Tribunal appeal filed on 17-07-2026.
    At the filing before: The order has been passed under section 73 amounting to Rs. 2,13,341/- for the tax period Apl 2019 - Mar 2020. The basis of order is reconciliation difference for Excess ITC claimed. Based on the Company's assessment, the Order is devoid of merits and the financial amount is expected to be NIL. The Company is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD3708240273764MoreLess
  • Tax disputeAvon Solutions & Logistics Pvt Ltd Vs. office of Assistant Commissioner, T Nagar, Tamil NaduSince 31 Aug 2024
    Writ Filed on 02-09-2025
    At the filing before: The order has been passed under section 73 amounting to Rs. 7,70,444/- for the FY 2019-20 The basis of order is reconciliation difference for Excess Claim of ITC.Based on the Avon's assessment, the Order is devoid of merits and the financial amount is expected to be NIL. Avon is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD3308243108693MoreLess
  • Tax disputeUpdater Services Limited Vs. office of Joint Commissioner, Madhapur, TelanganaSince 15 Sep 2025
    Appeal filed on 01-11-2025
    At the filing before: The order, dated 20.12.2024, initially demanded Rs. 9,71,843, (only penalty). In response, we filed a rectification request on the GST portal. Wherein the demand was reduced for Rs. 38,890, (Only Penalty). We intend to seek Appeal for this erroneous penalty. Order Ref. No. ZD360925019945VMoreLess
  • Tax disputeAthena BPO Pvt Ltd Vs. Income tax DepartmentSince 9 May 2024
    Appeal filed on 17.11.2024
    At the filing before: Department has raised notice and have disallowed deduction u/s 80JJAA due to non filing of form 10 DA for FY 22-23 We have filed Form 10DA which is also reflecting in the income tax site, Appeal has been filed with income tax department u/s 250 for the same Demand Order: 36,25,998; Tax Amount : 36,25,998MoreLess
  • Tax disputeAthena BPO Pvt Ltd Vs GST DepartmentSince 28 Aug 2024
    Appeal filed on 26.11.2024
    At the filing before: Department has raised notice primarily on account of sales made from Maharashtra to clients for service rendered in karnataka, departmet incorrectly assumed that these sales are made to karnataka branch and levied gst on the same for FY 19-20 Appeal form has been filed with GST department u/s 107 with the relevant submission explaining that the gst has been correctly discharged to clients and not to the branch. Demand Order 3,17,01,776; Tax Amount - 1,52,33,049; Interest/ penalty - 1,64,68,727MoreLess
  • Tax disputeAthena BPO Pvt Ltd Vs. Income tax DepartmentSince 25 May 2023
    Appeal filed on 03-04-2024
    At the filing before: Department has raised notice on account of excess refund given for FY 13-14 Rectification u/s 154 has been filed with the income tax department as the authorities have clubbed both interest and tax amount together and claiming interest compoent as excess refund Demand Order 35,11,517; Tax Amount - 35,11,517MoreLess
  • Tax disputeDenave India Pvt ltd vs CIT(Appeal) of Income tax departmentSince 1 Apr 2019
    Virtual hearing of CIT(A) conducted on 26.02.24. Now awaiting for CIT(A) order
    At the filing before: CIT Appeal has been filed on 04.01.2019 against the assessment order received u/s 143(3) on 11.12.2018 for AY 2016-17. Ground wise submission have been made on 24.09.2019, 23.10.2019, 05.11.2019, 14.01.2021, 04.01.2022 and 19.08.2023MoreLess
  • Tax disputeDenave India Pvt ltd vs CIT(Appeal) of Income tax departmentSince 21 Oct 2021
    Virtual hearing of CIT(A) conducted on 28.08.24. Now awaiting for CIT(A) order
    At the filing before: CIT Appeal has been filed on 21.10.2021 against the assessment order received u/s 143(3) on 25.09.2021 for AY 2018-19. Ground wise submission have been made on 14.11.2022 and 18.09.2023
  • Tax disputeDenave India Pvt ltd vs CIT(Appeal) of Income tax departmentSince 22 Oct 2022
    Hearing date has not been alloted yet
    At the filing before: CIT Appeal has been filed on 22.10.2022 against the assessment order received u/s 143(3) on 29.09.2022 for AY 2020-21. Ground wise submission have been made on 14.11.2023 and 19.08.2024
  • Tax disputeDenave India Pvt ltd vs CIT(Appeal) of Income tax departmentSince 27 Mar 2024
    Hearing date has not been alloted yet
    At the filing before: CIT Appeal has been filed on 27.03.2024 against the assessment order received u/s 143(3) on 13.03.2024 for AY 2022-23. Ground wise submission have been made on 19.08.2024
  • Tax disputeMatrix Business Services India Private Limited vs Income tax department (NATIONAL FACELESS APPEAL CENTRE)Since 3 Jan 2023
    Waiting for hearing
    At the filing before: Intial Notice received on 27.06.2022 for which response submitted on 08.07.22, 21.10.22, 28.12.22 and appeal on 01.03.23. Partial refund received on 04.3.2023.
  • Tax disputeMatrix Business Services India Private Limited vs GST Comissioner office Noida, UttarpradeshSince 22 Sep 2023
    Rs. 27,808/- is yet to be paid, with the due date on 31.03.25
    At the filing before: GST SC notice ZD0909232339042 was received on 22.09.23 regarding ITC claimed in FY 2017-2018. The demand order was received on 28.12.23, vide order no. ZD0912236247765. A personal hearing took place on 21.09.23, and an appeal was filed on 28.03.24 after the clarification was submitted. We received the final order no. ZD0912241095993 on 05.12.24.MoreLess
  • Tax disputeMatrix Business Services India Private Limited vs GST Comissioner office Noida, UttarpradeshSince 12 May 2023
    Rs. 54575/- is yet to be paid, with the due date on 31.03.25
    At the filing before: GST SC notice ZD091223048133P was received on 05.12.23 regarding ITC claimed in FY 2018-2019. The demand order was received on 22.04.24, vide order no. ZD090424302421U. A personal hearing took place on 25.09.23, and an appeal was filed on 21.07.24 after the clarification was submitted. We received the final order no. ZD091224109485E on 05.12.24.MoreLess
  • Tax disputeUpdater Services Limited vs GST Commercial Tax Officer, ChengalpattuSince 1 Feb 2025
    Appeal filed on 30-04-2025
    At the filing before: The order has been passed under section 74 amounting to Rs. 33,896/- The basis of order is reconciliation difference for ITC Reversal for Exempted Supplies.Based on the Company - Updater Services Limited’s assessment, we accept to pay and close the same. Order Ref. No. ZD330225003665RMoreLess
  • Tax disputeWashroom Hygiene Concepts Private Limited vs office of Superintendent, Wazirpur, DelhiSince 4 Feb 2025
    Appeal filed on 15-04-2025
    At the filing before: The order has been passed under section 74 amounting to Rs. 23,37,712/- The basis of order is reconciliation difference for Excess ITC Claimed. Based on the Subsidiary Company’s assessment, the Order is devoid of merits and the financial amount is expected to be NIL. The Subsidiary company is exploring all legal options including filing Writ Petition.MoreLess
  • Tax disputeUpdater Services Limited vs Office of the Joint Commissioner, Madhapur, Telangana GSTSince 6 Feb 2025
    Appeal filed on 06-05-2025
    At the filing before: The rectification order has been passed under section 73 amounting to Rs. 4,27,798/- against the order amounting to Rs. 1,06,90,408/- dated September 01st, 2024. Based on the Company - Updater Services Limited’s assessment, Appeal filed. Order Ref. No. ZD360225014834JMoreLess
  • Tax disputeAvon Solutions & Logistics Private Limited vs Office of Assistant Commissioner Bhabanipur, Kolkata, South West BengalSince 7 Feb 2025
    Demand fully paid and closed
    At the filing before: The order has been passed under section 73 amounting to Rs. 1,44,263/- The basis of order is reconciliation difference for ITC tax reversible against cancelled vendors. Based on the Subsidiary company’s assessment, Appeal to be filedMoreLess
  • Tax disputeUpdater Services Limited vs e office of Deputy Commissioner, Bengaluru, KarnatakaSince 19 Feb 2025
    Appeal filed on 15-04-2025
    At the filing before: The order has been passed under section 73 of KGST Act, 2017, amounting to Rs. 85,71,501/- The basis of the order is Non-payment of GST on SEZ supplies. Based on the company’s assessment, the Order is devoid of merits and the financial amount is expected to be NIL, Appeal to be filed. Notice Reference No.ZD290225076050MMoreLess
  • Tax disputeUpdater Services Limited vs office of Deputy Commissioner, ChennaiSince 22 Feb 2025
    Writ filed on 17-04-2025
    At the filing before: The order has been passed under section 73 amounting to Rs. 6,52,27,852/- The basis of the order is Interest on unbilled revenue at end of the financial year and Tax liability on disallowance of Credit notes for the F.Y 2020-21. Based on the company’s assessment, the Order is devoid of merits and the financial amount is expected to be NIL. Further, the company is exploring all legal options including filing Writ / Appeal before the Appellant authority. Notice Reference No.ZD330225231416SMoreLess
  • Tax disputeDeputy commisioner of Income tax, Central circle 2(3), Chennai.Since 8 May 2025
    UDS has filed an appeal (No. CIT(A), Chennai-19/10951/2016-17) against the income-tax order dated 27 March 2025 passed by the CIT(A) under Section 250 for the Assessment Year 2017-18 and. This appeal is against the order passed by the learned CIT(A) with regard to discharge the sustainment of levy of tax under section 115QA of the Act. Form 36 (Memorandum of Appeal) was lodged with the ITAT Chennai Bench on 8 May 2025. The case remains under consideration and awaits adjudication. Judgment has not yet been pronounced.MoreLess
  • Tax disputeAssistant commisioner of Income tax, Central circle 2(3), Chennai.Since 31 May 2025
    Pursuant to the Commissioner of Income-tax (Appeals)'s order dated 27 March 2025 in Assessment Year 2017-18, the Department has filed its own Appeal No. 1616/CHNY/2025 on 31 May 2025 before the ITAT, challenging those grounds permitted by the CIT(A). Given that both UDS's appeal (No. CIT(A) Chennai-19/10951/2016-17) and the Department's appeal pertain to the same assessment year and substantially overlapping legal issues, it is submitted that both appeals be consolidated and heard together by the TribunalMoreLess
  • Tax disputeUpdater Services Limited vs Office of Deputy Commissioner, Hyderabad, TelanganaSince 10 Nov 2025
    Appeal filed on 19-01-2026
    At the filing before: The order has been passed under section 73 amounting to Rs. 2,32,862/- The basis of order is under declaration of Ineligible ITC. Order Ref. No. ZD361125027763G
  • Tax disputeUpdater Services Limited vs Office of Deputy Commissioner, Hyderabad, TelanganaSince 6 Dec 2025
    Appeal filed on 19-01-2026
    At the filing before: The order has been passed under section 73 amounting to Rs. 2,34,786/- The basis of order is under declaration of Ineligible ITC. Order Ref. No. ZD361225022184R
  • Tax disputeUpdater Services Limited vs Office of Commercial Tax officer, Chennai, Tamil NaduSince 15 Dec 2025
    Appeal filed on 10-03-2026
    At the filing before: The order has been passed under section 74 amounting to Rs. 3,56,13,030/- The basis of order is Turnover difference between GSTR 3B vs GSTR 9, under declaration of Ineligible ITC, and ITC Reversal for Exempted supplies. Order Ref. No. ZD3312252203033MoreLess
  • Tax disputeUpdater Services Limited vs Office of Commercial Tax officer, Chennai, Tamil NaduSince 16 Dec 2025
    Appeal filed on 04-03-2026
    At the filing before: The order has been passed under section 74 amounting to Rs. 41,57,398/- The basis of order is Turnover difference between GSTR 3B vs GSTR 9, and under declaration of Ineligible ITC. Order Ref. No. ZD331225251176NMoreLess
  • Tax disputeUpdater Services Limited vs Office of Deputy Commissioner, Chennai, Tamil NaduSince 20 Dec 2025
    Appeal filed on 04-03-2026
    At the filing before: The order has been passed under section 73 amounting to Rs. 11,06,850/- The basis of order is Disallowance of ineligible ITC and Disallowance of ITC claimed return defaulters & tax non payers. Order Ref. No. ZD331225318502UMoreLess
  • Tax disputeUpdater Services Limited vs Office of the Superintendent, Pune, MaharashtraSince 23 Dec 2025
    Appeal filed on 04-03-2026
    At the filing before: The order has been passed under section 74 amounting to Rs. 26,70,360/- The basis of order is Short payment of tax on Housekeeping cleaning services fall composite supply u/s 8 of CGST Act,2017.
  • Tax disputeUpdater Services Limited vs Office of the Superintendent, Pune, MaharashtraSince 23 Dec 2025
    Appeal filed on 11-03-2026
    At the filing before: The order has been passed under section 73, amounting to Rs. 7,10,104/- The basis of order is Non-Reversal of Input tax credit availed & utilized on purchase falling under blocked credit u/s 17(5) of the act.MoreLess
  • Tax disputeUpdater Services Limited vs Office of Deputy Commissioner, Bengaluru, KarnatakaSince 29 Dec 2025
    Appeal filed on 04-03-2026
    At the filing before: The order has been passed under section 73 amounting to Rs. 1,66,140/- The basis of order is Excess claim of ITC in inward supply. Notice Reference No. ZD291225218730H
  • Tax disputeFusion Foods and Catering Private Limited vs Office of the Assistant Commissioner, Chennai, Tamil NaduSince 29 Dec 2025
    Writ filed on 06-03-2026
    At the filing before: The order has been passed under section 73 amounting to Rs. 1,01,42,848 /- The basis of order is Supply to SEZs without payment of tax.
  • Tax disputeAvon Solutions & Logistics Private Limited vs office of Deputy Commissioner, TelanganaSince 31 Dec 2025
    Appeal filed on 24-03-2026
    At the filing before: The order has been passed under section 73 amounting to Rs. 2,06,450/- The basis of order is Excess Claim of ITC.
  • Tax disputeUpdater Services Limited vs Office of the Superintendent, Pune, MaharashtraSince 23 Dec 2025
    Appeal filed on 10-03-2026
    At the filing before: The order has been passed under section 74 amounting to Rs. 18,19,524/- The basis of order is Short payment of tax on Housekeeping cleaning services fall composite supply u/s 8 of CGST Act,2017.
  • Tax disputeUpdater Services Limited vs GST Commercial Tax Officer, ChengalpattuSince 23 Jan 2026
    Appeal filed on 21-04-2026
    At the filing before: Notice ref.No. ZD3301261584887
  • Tax disputeUpdater Services Limited vs GST Commercial Tax Officer, ChengalpattuSince 23 Jan 2026
    Appeal filed on 21-04-2026
    At the filing before: Notice ref.No. ZD330126159158F
  • Tax disputeUpdater Services Limited vs GST Commercial Tax Officer, ChengalpattuSince 23 Jan 2026
    Appeal filed on 21-04-2026
    At the filing before: Notice ref.No. ZD3301261598953
  • Tax disputeUpdater Services Limited vs GST Commercial Tax Officer, ChengalpattuSince 24 Jan 2026
    Appeal filed on 17-04-2026
    At the filing before: Notice ref.No. ZD330126170109N
  • Tax disputeUpdater Services Limited vs GST Commercial Tax Officer, ChengalpattuSince 24 Jan 2026
    Appeal filed on 17-04-2026
    At the filing before: Notice ref.No. ZD330126170154S
  • Tax disputeUpdater Services Limited vs GST Joint Commissioner Appeals, ChennaiSince 5 Aug 2025
    Tribunal Appeal filed on 29-07-2026.
    At the filing before: Notice ref.No. ZD330825043057G
  • Tax disputeUpdater Services Limited vs Additional Commissioner GST Appeals, PondicherrySince 21 Apr 2026
    Applied for a waiver scheme on 31-08-2026.
    At the filing before: The order under section 73 Ref.No.ZD340426001436Q / 39/2026 (GSTA-I)(ADC) has been passed, confirming a penalty of to Rs. 40,000/- against the appeal filed for Order Ref.No.ZD340724000547K a demand of Rs. 1,01,897/-. In response we have filed an rectification application.MoreLess
  • Tax disputeUpdater Services Limited office of Deputy Commissioner, DGSTO-5, Bengaluru, KarnatakaSince 29 Dec 2023
    Tribunal Appeal filed on 30-06-2026.
    At the filing before: The order has been passed under section 73 amounting to Rs. 1,99,57,774/- The basis of order is Excess claim of ITC, Director Remuneration under RCM, Non payment of GST on SEZ supplies. Based on the Company's assessment, the Order is devoid of merits and the financial amount i expected to be NIL. The Company is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD291223091818YMoreLess
  • Tax disputeUpdater Services Limited office of Deputy Commissioner, DGSTO-5, Bengaluru, KarnatakaSince 15 Mar 2024
    Tribunal Appeal filed on 04-07-2026.
    At the filing before: The order has been passed under section 73 amounting to Rs. 70,27,508/- The basis of order is Non payment of GST on SEZ supplies. Based on the Company's assessment, the Order is devoid of merits and the financial amount i expected to be NIL. The Company is exploring all legal options including filing appeal before the Appellant authority. Notice ref.No: ZD2903240374197MoreLess
  • Tax disputeUpdater Services Limited Office of the Assistant commissioner of Income tax, central circle 2(3)Since 26 Aug 2024
    Assessment pending before Assessing officer
    At the filing before: Pursuant to the order of the Hon'ble Income Tax Appellate Tribunal dated 14 November 2025, the matter was remitted to the file of the Assessing Officer for de novo adjudication of all three issues. In compliance with these directions, the Assessing Officer initiated the remand proceedings on 26 August 2026. The proceedings are presently pending before the Assessing Officer.MoreLess
  • Tax disputeAvon Solutions & Logistics Pvt Ltd Vs. office of Assistant Commissioner, T Nagar, Tamil NaduSince 8 Sep 2026
    Appeal to be filed
    At the filing before: The Order has been passed under section 73 amounting to Rs. 1,45,522/- for the FY 2023-24 vide Ref. No. ZD330926057070I. The basis of order is Exempted against ITC reversal.

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2026.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Public IssuesOct 2023, checked by ICRA LIMITED37.79––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.