Date: September 28, 2026
Regulatory Compliance Disclosure
Tax & Legal Disclosures
Order Details:
- The order raises a GST demand on Corporate Guarantee services provided by the company to certain subsidiaries
- Total penalty imposed: ₹53,15,150/- (Rupees Fifty Three Lakh Fifteen Thousand One Hundred Fifty Only)
- Order dated: September 24, 2026
- Date of receipt: September 25, 2026 (via registered email)
Nature of Violation:
- Alleged non-payment of GST on Corporate Guarantee services provided to subsidiaries
- Period of alleged violation: April 2021 to October 2023
- Applicable laws: CGST Act, 2017 and KGST Act, 2017
- The demand includes applicable interest and penalty amounts
Financial Impact Assessment:
- The company states there is no material impact on its financials or operations due to this order
- Impact is quantifiable as ₹53,15,150/- but deemed immaterial to overall operations
Company Action:
- The company has decided to prefer an appeal against the order
- Appeal will be filed before the appropriate appellate authority
Disclosure Timing:
- Delay in disclosure attributed to receipt of order during weekend
- Inadvertent internal communication gap cited as reason for delay
- Company has taken measures to strengthen internal processes for timely future compliance