The relevant disclosure is attached
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Awaiting price reaction for this filing.
Fortis Malar Hospitals received a GST Show Cause Notice from the State Tax Officer (Intelligence Division, Chengalpattu, Tamil Nadu) for the period April 2021 to March 2022, originally alleging a demand of INR 3,811.68 Lakhs. After the company submitted its response, the GST Authority passed an order confirming only a minor demand of INR 4.29 Lakhs (including interest of INR 1.05 Lakhs and penalty of INR 1.62 Lakhs). The balance amount from the original notice was dropped entirely. The matter has been disclosed under SEBI Listing Regulations (Reg 30).
The financial impact is negligible — only INR 4.29 Lakhs confirmed out of an initial demand of over INR 38 crore, with the balance dropped. Shareholders should view this as a positive outcome as the company's response was largely successful in contesting the tax demand.