Sterling and Wilson Renewable Energy Limited has informed the Exchange about Action(s) initiated or orders passed
SWSOLAR · price
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Sterling and Wilson Renewable Energy has received an order dated August 26, 2025 from the Joint Commissioner of GST & Central Excise, Chennai South, for an alleged tax shortfall of about Rs. 5.74 Crore for the period January 2019 to April 2019, along with an equal amount as penalty and applicable interest. The company plans to file an appeal against this order within the prescribed time. Importantly, the company states there is no financial impact because the demand is fully covered under an Indemnity Agreement with Reliance New Energy Limited, Shapoorji Pallonji and Co. Pvt. Ltd., and Mr. Khurshed Daruvala. There is also an option to close the matter by paying the full tax, interest, and 50% of the penalty within 30 days.
Shareholders are largely protected as the entire tax and penalty liability is covered by the indemnity agreement, so there is no direct financial hit to the company. The stock is unlikely to be materially affected, though the appeal process and final outcome will be watched by investors.