Please find attached the requisite details under regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Awaiting price reaction for this filing.
Saint-Gobain Sekurit India has received a final order from the Customs, Excise & Service Tax Appellate Tribunal (CESTAT), Mumbai in a long-pending matter for the periods 2003-04 and 2004-05. The tribunal has allowed the company's appeal and dropped the tax demand of ₹252.4 lakhs to Nil, accepting the company's submissions and representations. The company has confirmed there is no material impact on its financial, operational, or other activities as a result of this order. This effectively brings closure to an old excise-related tax dispute in the company's favor.
Positive for shareholders — the company won a 20-year-old tax appeal and a ₹252.4 lakhs demand has been completely set aside, eliminating any contingent liability from this matter with no financial impact.