Date: November 7, 2026
Other Operational / Legal / Strategic Disclosures
The company has received a favorable order from tax authorities regarding a GST matter for Fiscal Year 2022-23.
Authority Details:
- Name: Deputy Commissioner of State Tax, Jalgaon, Maharashtra
Order Details:
- Order Reference: Form GST DRC-07
- Order Date: November 6, 2026
- Date of Receipt: November 6, 2026
- Legal Basis: Order passed under Section 73(9) of the CGST Act, 2017 and the MGST Act, 2017, read with Section 20 of the IGST Act, 2017
Nature of Proceedings:
- The order accepted the company's reply and dropped the proceedings initiated pursuant to a show cause notice dated September 29, 2026.
- The original show cause notice alleged excess availment of input tax credit for F.Y. 2022-23.
- The company maintained that the input tax credit was correctly availed and utilized.
Financial Impact:
- The demand of ₹7,10,16,525 (comprising tax, interest and penalty) stands dropped in its entirety.
- No tax, interest or penalty is payable pursuant to the order.
- The company states there is no financial or operational impact from this order.
Regulatory Context:
- The matter was previously disclosed on page 357 of the company's Prospectus dated October 15, 2026.