NSE/BSE Codes: BSE: 532513, NSE: TVSELECT
Summary of Key Information:
Nature of Event / Disclosure:
Regulatory disclosure of a material pending litigation pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026. The disclosure pertains to a show cause notice received from GST authorities.
Involved Parties / Authorities:
The opposing party is the Deputy Commissioner, Karnataka GST Authority.
Date / Timeline of Event:
The disclosure was made to the exchanges on 28th September 2026. The show cause notice was issued for the tax period spanning April 2022 to March 2023.
Brief Description of Outcome / Dispute:
The Deputy Commissioner, Karnataka GST Authority, issued a Show Cause Notice under Section 73(1) of the CGST Act read with the Karnataka GST Act & Rules 2017. The notice proposes an additional tax demand on various grounds for the financial year 2022-23.
Impact of Outcome:
Financial Impact:
The total expected financial implication, including interest and penalty, is explicitly stated as ₹7,82,42,083 (7.82 Crore). This is a quantified demand against the company.
Operational / Business / Strategic Impact:
No material disclosures in this section. The document does not indicate any operational disruption, project delays, or strategic consequences.
Other Implications:
No material disclosures in this section. The document does not elaborate on reputational, legal, or market perception effects.
Next Steps / Required Actions:
The company is in the process of filing its reply to the issued Show Cause Notice. No specific deadline for this response is mentioned in the disclosure.