NSE/BSE Codes: BSE: 500179, NSE: HCL-INSYS

Summary of Key Information:

Nature of Event / Disclosure:

Regulatory disclosure under SEBI LODR Regulation 30 regarding the filing of an appeal by the Principal Commissioner, Central Goods and Services Tax, Noida, before the Hon'ble Allahabad High Court. This appeal challenges a favorable order previously received by the company from the Hon'ble Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Allahabad.

Involved Parties / Authorities:

  • Principal Commissioner, Central Goods and Services Tax, Noida (Appellant)
  • Hon'ble Allahabad High Court (Appellate Authority)
  • Hon'ble Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Allahabad (Original Appellate Authority)
  • HCL Infosystems Limited (Respondent)

Date / Timeline of Event:

  • October 17, 2025: Company's original disclosure of favorable CESTAT order
  • March 10, 2021: Date of original Order-In-Original imposing demand
  • July 6, 2026: Date of receipt of intimation about department's appeal to High Court
  • July 7, 2026: Date of this disclosure to exchanges

Brief Description of Outcome / Dispute:

The Principal Commissioner, Central Goods and Services Tax, Noida, has filed an appeal before the Hon'ble Allahabad High Court against the order passed by Hon'ble CESTAT, Allahabad. The CESTAT order had allowed the company's appeal and set aside an Order-In-Original that imposed a demand of ₹312.34 Crores plus interest and equivalent penalty under rule 14 of the CENVAT Credit Rules, 2004 read with the proviso to Section 73(1) of the Finance Act, 1994.

Impact of Outcome:

Financial Impact:

The matter is presently at the admission stage before the Hon'ble High Court with no interim order affecting the favorable CESTAT order. Accordingly, there is presently no additional financial impact on the company quantifiable in monetary terms from these proceedings.

Operational / Business / Strategic Impact:

No material operational, business, or strategic impact disclosed. The company states it will continue to take all necessary legal steps to defend the matter.

Other Implications:

The company believes it has a strong case on merits. No reputational, regulatory, or market perception effects are explicitly stated.

Next Steps / Required Actions:

The company will continue to take all necessary legal steps to defend the matter. The appeal is currently at the stage of admission before the Hon'ble Allahabad High Court.