Deepak Builders & Engineers India Limited has informed the Exchange about General Updates
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Deepak Builders & Engineers India Limited has received a summons from the Directorate General of GST Intelligence (DGGI), Ludhiana, under Section 70 of the Central Goods and Services Tax Act, 2017. The summons, received via email on 20th March 2026, is directed to Director Sh. Deepak Singhal, requiring him to appear before the GST Officer on 23rd March 2026. The inquiry relates to the availment and utilisation of ineligible Input Tax Credit (ITC) under the CGST Act. This is a follow-up to earlier DGGI search proceedings referenced in company communications dated 4th December 2025 and 2nd February 2026. The company has stated that the financial impact is not quantifiable at this preliminary stage, as the inquiry has not yet alleged any specific violations or contraventions.
This is a negative development that introduces regulatory and financial uncertainty. While the company claims the inquiry is at a preliminary stage, any adverse finding on ineligible ITC could result in tax liabilities, penalties, and interest charges. Shareholders should monitor further developments, as the outcome may materially affect the company's financial position.