NSE/BSE Codes: BSE: 522281, Symbol: RAMRAT
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, regarding receipt of a Show Cause-cum-Demand Notice from the Directorate General of Goods and Services Tax Intelligence (DGGI).
Involved Parties / Authorities:
- Issuing Authority: Joint Director, Directorate General of Goods and Services Tax Intelligence (DGGI), Surat Zonal Unit.
- Recipient: Ram Ratna Wires Limited.
Date / Timeline of Event:
- Date of Notice: August 27, 2026.
- Date of Receipt: Communicated to the company on August 27, 2026 (late night).
- Date of Disclosure to Exchanges: August 29, 2026.
- Applicable Period: Financial Years 2020-21, 2021-22, 2022-23, and 2023-24.
Brief Description of Outcome / Dispute:
The company has received a Show Cause-cum-Demand Notice issued under Section 74(1) & Section 122(1)(ii) of the CGST Act, 2017 & SGST Act, 2017 read with IGST Act, 2017. The notice raises a GST demand of INR 29.23 Crores along with applicable interest and penalty.
Impact of Outcome:
Financial Impact:
- The notice specifies a direct demand of ₹29.23 Crores.
- Additional applicable interest and penalties are also demanded as per the provisions of the GST Act, 2017.
- The company states that, at present, it does not envisage any material impact on its financials arising from this notice.
Operational / Business / Strategic Impact:
- The company states that it does not envisage any material impact on its operations or other activities.
- No aberrations or non-compliances were identified by the authority in the communication.
Other Implications:
The disclosure is a mandatory regulatory requirement. The company's response and the final outcome of this matter could have reputational and future compliance implications.
Next Steps / Required Actions:
- The company is in the process of evaluating the Show Cause-cum-Demand Notice and the allegations contained therein.
- The company intends to file detailed submissions, duly supported by relevant documentary evidence, within the prescribed timeline, rebutting the allegations and addressing the proposed demand.