Date: 5th October, 2026
Other Operational / Legal / Strategic Disclosures
This is a disclosure of a pending litigation matter and its subsequent resolution, as required by SEBI LODR Regulations.
Brief Details of Litigation
- Opposing Party: The Joint Commissioner, CGST & Central Excise/Service Tax, Bhopal, Madhya Pradesh ("GST Department")
- Court/Tribunal/Agency: The Commissioner of Appeals, CGST & Central Excise/Service Tax, Bhopal, Madhya Pradesh
- Nature of Dispute: The dispute pertained to an Order in Original (OIO) dated 14th January 2025 passed by the Joint Commissioner, Bhopal. The OIO involved a demand for:
- Interest of ₹34,99,182 imposed under section 50 of the CGST/Madhya Pradesh GST Acts for the alleged delayed payment of tax for Financial Years 2020-2021 & 2021-2022.
- Penalty of ₹95,55,255 levied under Sections 73/74 of the GST Acts for the alleged disallowance of certain Input Tax Credit (ITC) for the same period.
- The total demand from the OIO was ₹1,30,54,437.
Update and Outcome
- The Company had filed an appeal against the aforementioned OIO.
- The Commissioner of Appeals, Bhopal, passed an Order in Appeal (OIA) dated 30th September 2026.
- The OIA granted the entire relief sought by the company, thereby quashing the total demand of ₹1,30,54,437.
Expected Financial Implications
- The company states that the order has no adverse impact on its financials as the entire relief sought for has been granted.