New director appointed; about INR 49 crore GST penalty notice flagged

Board appointed Mr. Ajay Das as Additional Director effective 8 July 2026. Separately, the company received a Show Cause Notice from DGGI Bangalore for alleged GST violations, with potential penalties of about INR 20.46 crore under section 122(1)(ii) and INR 28.86 crore under section 122(1)(vii) of the CGST Act, totaling around INR 49.31 crore. The company plans to challenge the notice. Financial results for periods ending March 2025, September 2025, and March 2026 have been postponed due to auditor preoccupation, with next board meeting on 13 July 2026.