NIIT Learning Systems Allots 8,336 Equity Shares Under Employee Stock Option Plan 2023

NIIT Learning Systems Limited allotted 8,336 equity shares on May 4, 2026, under its Employee Stock Option Plan 2023-0. The allotment was carried out by the Share Allotment Committee of the company, with each equity share carrying a face value of Rs. 2/-.

Allotment Details

The following table summarises the key details of the allotment:

Parameter: Details Allotment Date: May 4, 2026 Number of Shares Allotted: 8,336 Face Value per Share: Rs. 2/- Plan: Employee Stock Option Plan 2023-0 Allotting Authority: Share Allotment Committee

Listing Formalities in Progress

NIIT Learning Systems has informed the stock exchanges that it is currently in the process of completing the requisite formalities for the listing of the newly allotted shares. The company stated that it will file a listing application along with the necessary documents with the exchanges to seek listing and trading approval. The intimation was signed by Deepak Bansal, Company Secretary and Compliance Officer of NIIT Learning Systems Limited.

NIIT Learning Systems Limited, formerly known as MindChampion Learning Systems Limited, is registered at Plot No. 85, Sector 32, Institutional Area, Gurugram 122 001, Haryana, India.

NIIT Learning Systems Limited has taken corrective legal action regarding its income tax assessment proceedings for Assessment Year 2023-24, filing both a rectification application and an appeal on April 23, 2026.

Background of Tax Assessment Issue

The company's current actions stem from an earlier development communicated on March 27, 2026, when NIIT Learning Systems received an order under Section 143(3) from the Assessment Unit of the Income Tax Department under faceless assessment proceedings. Along with this order, the company also received a Notice of Demand issued under Section 156 of the Income-tax Act, 1961.

Parameter: Details Assessment Year: 2023-24 Original Order Date: March 27, 2026 Order Section: 143(3) Demand Notice Section: 156 Assessment Type: Faceless Assessment Proceedings

Nature of Tax Demand

The tax demand arose due to apparent mistakes in the computation sheet that was issued along with the assessment order. The primary issue identified was the short credit of prepaid taxes by the Assessment Unit during the faceless assessment proceedings. This computational error resulted in an inflated tax liability for the company.

Legal Actions Taken

On April 23, 2026, NIIT Learning Systems filed two separate legal remedies to address the assessment issues:

Action Type: Details Rectification Application: Filed under Section 154 of Income-tax Act, 1961 Appeal: Filed before Commissioner of Income Tax (Appeals) Filing Date: April 23, 2026 Timeline Compliance: Within prescribed time limit

Regulatory Compliance

The company has maintained transparency with stakeholders by providing updates under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. This latest communication serves as a continuation of the earlier intimation dated March 27, 2026, ensuring investors and regulatory authorities remain informed about material developments.

The filing of both rectification application and appeal demonstrates the company's systematic approach to addressing the tax assessment issues through appropriate legal channels while adhering to prescribed timelines.

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