The disclosure provides an update on a Show Cause Notice (SCN) received by the company, which was previously disclosed to the exchanges on July 28, 2025. The SCN was issued under Section 74 of the Central Goods and Services Tax Act, 2017.
The notice demanded the recovery of tax and imposition of penalty, with the total amount aggregating to ₹7.68 crore, along with applicable interest. The matter pertained to allegations of an incorrect refund of Integrated Goods and Services Tax (IGST) for specific periods: October 2018 to March 2019, April 2019 to March 2020, and April 2020 to March 2021.
In response, the company had filed a writ petition before the Hon'ble High Court of Himachal Pradesh challenging the validity of the aforementioned Show Cause Notice.
The Hon'ble High Court of Himachal Pradesh pronounced its order on November 3, 2026. The court allowed the writ petition filed by the company and quashed the Show Cause Notice. Consequently, all proceedings initiated against the company via the said SCN stand terminated.
The company explicitly states that there is no financial or operational impact on the company due to this court order.
The intimation was digitally signed by Prakash Kumar Biswal, Company Secretary & Senior Vice President – Legal, on November 4, 2026, at 17:01:11 IST.