Disclosure under Regulation 30 of SEBI LODR
Nature of Disclosure: The company has received a Demand-Cum-Show-Cause Notice from the GST Authority.
Details of Communication Received:
- Type of Communication: Demand-Cum-Show-Cause Notice
- Date of Receipt: 20th July, 2026
- Issuing Authority: Office of the Commissioner (Audit), GST & Central Excise, Bhubaneswar
Summary of Material Contents:
The notice contains three primary allegations against the company:
1. Alleged non-payment of GST under reverse charge on water charges paid to the Government of Odisha.
2. Alleged wrongful availment of input tax credit on invoices issued by a supplier whose registration was cancelled.
3. Alleged non-payment of GST under reverse charge on security services received.
Financial Implications:
- The notice involves an aggregate demand of approximately ₹2.60 crore.
- The demand includes applicable interest and penalty under Section 74 of the CGST Act, 2017.
- The company states that based on its current assessment, there is no material impact on its financial, operational or other activities.
Period Applicable: The notice covers the financial years 2020-21 to 2022-23.
Penalty Details: Penalty has been proposed under Section 74 of the CGST Act, 2017 read with corresponding provisions of the OGST Act, 2017.
Company's Action: The company will file a reply to the Show Cause Notice before the Adjudicating Authority.
Regulatory Reference: This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and pursuant to SEBI master circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.