Sterling and Wilson Renewable Energy Limited has informed the Exchange about orders passed by Deputy Commissioner SGST Gautambuddha Nagar Noida Uttar Pradesh
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Sterling and Wilson Renewable Energy has received an order dated December 31, 2025 from the Deputy Commissioner of SGST, Gautambuddha Nagar, Noida, Uttar Pradesh. The order relates to a shortfall of taxes and mismatch of input tax for the period April 2021 to March 2022. The total demand aggregates to approximately INR 9.40 crores, inclusive of penalty and applicable interest as on date. The company has noted that this liability is partially covered under an indemnity agreement with Reliance New Energy Limited, Shapoorji Pallonji and Co. Private Limited, and Mr. Khurshed Daruvala. The company is currently evaluating the order and deciding on its future course of action, which may include appeal or other legal remedies.
The INR 9.40 crore demand is a tax-related liability and not a SEBI or securities market action. Partial indemnity coverage from Reliance New Energy and Shapoorji Pallonji provides some protection to shareholders, but the net exposure could still impact earnings if the company fails to get relief. Investors should watch for further updates on whether the company appeals and the outcome of evaluation.