The relevent disclosure is attached.
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Awaiting price reaction for this filing.
Fortis Malar Hospitals disclosed the outcome of a GST-related Show Cause Notice from the State Tax Officer (Group X), Chengalpattu, Tamil Nadu. The original notice covered the period April 2019 to March 2020 and sought a demand of about INR 4,718.68 Lakhs. After the company submitted its response, the GST Authority dropped the bulk of the demand and confirmed only a small demand of INR 4.99 Lakhs, which includes interest of INR 1.66 Lakhs and penalty of INR 1.66 Lakhs. The disclosure was made under Regulation 30 of the SEBI Listing Regulations. The final liability is negligible compared to the original exposure flagged in the notice.
This is a positive outcome for shareholders — the original demand of roughly INR 47 crore was almost entirely dropped, leaving only a token liability of about INR 5 lakh. Negligible impact on the company's financials or stock price.