Integrated Filing-Governance



General information about company

Scrip Code 532884
NSE Symbol REFEX
MSEI Symbol NOTLISTED
ISIN INE056I01025
Name of the entity REFEX INDUSTRIES LIMITED
Date of start of financial year 01-Apr-2025
Date of end of financial year 31-Mar-2026
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2026
Type of company Equity
Whether Annexure I (Part A) of the SEBI Circular dated December 31, 2024 related to Compliance Report on Corporate Governance is applicable to the entity? Yes
Whether Annexure I (Part B) of the SEBI Circular dated December 31, 2024 related to Investor Grievance Redressal Report is Applicable to the entity? Yes
Whether Annexure I (Part C) of the SEBI Circular dated December 31, 2024 related to Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies is Applicable to the entity? Yes
Whether Annexure I (Part D) of the SEBI Circular dated December 31, 2024 related to Disclosure of Imposition of Fine or Penalty is Applicable to the entity? No
Reason For Part D Of Annexure I Disclosure Of Imposition Of Fine Or Penalty Is Not Applicable To The Entity Not applicable
Whether Annexure I (Part E) of the SEBI Circular dated December 31, 2024 related to Disclosure of Updates to Ongoing Tax Litigations or Disputes is Applicable to the entity? Yes
Whether Annexure I (Part F) of the SEBI Circular dated December 31, 2024 related to Disclosure Of Loans / Guarantees / Comfort Letters / Securities Etc. is Applicable to the entity? Yes
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 1000 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID r00128
Reason For No SCORE ID
Type of Submission New
Remarks (website dissemination)



Annexure I
Annexure I to be submitted by listed entity on quarterly basis
I. Composition of Board of Directors
Disclosure of notes on composition of board of directors explanatory
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO Yes Disqualification of Directors under section 164 of the Companies Act, 2013
Sr Title (Mr / Ms) Name of the Director PAN DIN Category 1 of directors Category 2 of directors Category 3 of directors Date of Birth Whether the director is disqualified? Start Date of disqualification End Date of disqualification Details of disqualification Current status Whether special resolution passed? [Refer Reg. 17(1A) of Listing Regulations] Date of passing special resolution Initial Date of appointment Date of Re-appointment Date of cessation Tenure of director (in months) No of Directorship in listed entities including this listed entity (Refer Regulation 17A of Listing Regulations) No of Independent Directorship in listed entities including this listed entity [with reference to proviso to regulation 17A(1) & 17A(2)] Number of memberships in Audit/ Stakeholder Committee(s) including this listed entity (Refer Regulation 26(1) of Listing Regulations) No of post of Chairperson in Audit/ Stakeholder Committee held in listed entities including this listed entity (Refer Regulation 26(1) of Listing Regulations) Reason for Cessation Notes for not providing PAN Notes for not providing DIN
1 Mr. ANIL JAIN 00181960 Executive Director Chairperson related to Promoter MD 13-Sep-1976 No Active NA 13-Sep-2002 23-Sep-2022 2 0 1 0
2 Mr. DINESH KUMAR AGARWAL 07544757 Executive Director Not Applicable 09-Jul-1980 No Active NA 27-Jul-2016 01-Jun-2024 2 0 4 0
3 Ms. SUSMITHA SIRIPURAPU 09850991 Non-Executive - Non Independent Director Not Applicable 22-Aug-1994 No Active NA 02-Feb-2023 28-Apr-2023 1 0 1 0
4 Mr. RAMESH DUGAR 01686047 Non-Executive - Independent Director Not Applicable 25-Jan-1973 No Active NA 29-Dec-2020 01-Mar-2024 63.12 1 1 1 1
5 Mr. SIVARAMAKRISHNAN VASUDEVAN 02345708 Non-Executive - Independent Director Not Applicable 15-Jun-1958 No Active NA 31-Mar-2023 31-Mar-2023 36.01 1 1 1 0
6 Mrs. LATHA VENKATESH 06983347 Non-Executive - Independent Director Not Applicable 25-Feb-1967 No Active NA 28-Dec-2023 28-Dec-2023 27.04 3 3 4 2
7 Mr. VINEET KOTHARI 10070816 Non-Executive - Independent Director Not Applicable 02-Sep-1959 No Active NA 19-Jun-2025 18-Jul-2025 9.13 1 1 0 0



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory .Mr. Sachin Navtosh Jha had resigned and ceased to be an employee of the Company with effect from March 04, 2026, and consequently ceased to be a Member of the Risk Management Committee with effect from the said date. In view of the same, the Board of Directors of the Company, at its meeting held on March 26, 2026, approved the re-constitution of the Risk Management Committee. Pursuant to the aforesaid re-constitution, Ms. Jahanvi Khedwal, Chief of Staff Refex Group, has been appointed as a Member of the Committee with effect from March 26, 2026.



Audit Committee Details
Whether the Audit Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 01686047 RAMESH DUGAR Non-Executive - Independent Director Chairperson 30-Sep-2022
2 07544757 DINESH KUMAR AGARWAL Executive Director Member 27-Jul-2016
3 02345708 SIVARAMAKRISHNAN VASUDEVAN Non-Executive - Independent Director Member 31-Mar-2023



Nomination and remuneration committee
Whether the Nomination and remuneration committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 01686047 RAMESH DUGAR Non-Executive - Independent Director Chairperson 30-Sep-2022
2 00181960 ANIL JAIN Executive Director Member 24-May-2024
3 02345708 SIVARAMAKRISHNAN VASUDEVAN Non-Executive - Independent Director Member 31-Mar-2023



Stakeholders Relationship Committee
Whether the Stakeholders Relationship Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 06983347 LATHA VENKATESH Non-Executive - Independent Director Chairperson 24-May-2024
2 07544757 DINESH KUMAR AGARWAL Executive Director Member 27-Jul-2016
3 09850991 SUSMITHA SIRIPURAPU Non-Executive - Non Independent Director Member 24-May-2024



Risk Management Committee
Whether the Risk Management Committee has a Regular Chairperson Yes
Sr DIN Number Name of Committee members Category 1 of directors Category 2 of directors Date of Appointment Date of Cessation Remarks
1 07544757 DINESH KUMAR AGARWAL ED Chairperson 27-Jan-2025
2 09850991 SUSMITHA SIRIPURAPU NED Member 27-Jan-2025
3 02345708 SIVARAMAKRISHNAN VASUDEVAN ID Member 27-Jan-2025
4 99999999 HARINI.S VP-Legal (Holding Co.) Member 27-Jan-2025 Textual Information(1)
5 99999999 SACHIN NAVTOSH JHA Chief of Staff Refex Group Member 27-Jan-2025 04-Mar-2026 Textual Information(2)
6 99999999 JAHANVI KHEDWAL Chief of Staff Refex Group Member 26-Mar-2026 Textual Information(3)



Text Block
Textual Information(1) Ms. Harini S, VP Legal Refex Group was appointed as member of Risk Management Committee with effect from January 27 2025
Textual Information(2) Mr. Sachin Navtosh Jha had resigned and ceased to be an employee of the Company with effect from March 04, 2026, and consequently ceased to be a member of the Risk Management Committee with effect from the said date.
Textual Information(3) Pursuant to the re-constitution of the Risk Management Committee, Ms. Jahanvi Khedwal, Chief of Staff Refex Group, has been appointed as a Member of the Committee with effect from March 26, 2026.



Annexure 1
III. Meeting of Board of Directors
Disclosure of notes on meeting of board of directors explanatory
Sr Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Notes for not providing Date Whether requirement of Quorum met (Yes/No) Total Number of Directors as on date of the meeting Number of Directors present* (All directors including Independent Director) No. of Independent Directors attending the meeting*
1 04-Nov-2025 Yes 7 7 4
2 21-Jan-2026 77 Yes 7 6 3
3 26-Mar-2026 63 Yes 7 6 4



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory
Sr Name of Committee Date(s) of meeting (Enter dates of Previous quarter and Current quarter in chronological order) Maximum gap between any two consecutive (in number of days) Name of other committee Reson for not providing date Whether requirement of Quorum met (Yes/No) Total Number of Directors in the Committee as on date of the meeting Number of Directors Present (All Directors including Independent Director) No. of Independent Directors attending the meeting* No. of members attending the meeting (other than Board of Directors)
1 Audit Committee 04-Nov-2025 Yes 3 2 2 0
2 Audit Committee 20-Jan-2026 76 Yes 3 3 2 0
3 Audit Committee 26-Mar-2026 64 Yes 3 3 2 0
4 Nomination and remuneration committee 21-Jan-2026 Yes 3 3 2 0
5 Risk Management Committee 04-Nov-2025 Yes 3 2 1 2
6 Stakeholders Relationship Committee 20-Jan-2026 76 Yes 3 3 1 0



Annexure 1
VI. Affirmations
Sr Subject Compliance status (Yes/No)
1 The composition of Board of Directors is in terms of SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
2 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015 a. Audit Committee Yes
3 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. b. Nomination & remuneration committee Yes
4 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. c. Stakeholders relationship committee Yes
5 The composition of the following committees is in terms of SEBI(Listing obligations and disclosure requirements) Regulations, 2015. d. Risk management committee (applicable to the top 1000 listed entities) Yes
6 The committee members have been made aware of their powers, role and responsibilities as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015. Yes
7 The meetings of the board of directors and the above committees have been conducted in the manner as specified in SEBI (Listing obligations and disclosure requirements) Regulations, 2015 Yes
8 This report and/or the report submitted in the previous quarter has been placed before Board of Directors. Yes
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory Ankit Poddar
2 Designation Company Secretary and Compliance Officer



Details of Cyber security incidence
Whether as per Regulation 27(2)(ba) of SEBI (LODR) Regulations, 2015 there has been cyber security incidents or breaches or loss of data or documents during the quarter No
Other details of cyber security incidence or breaches or loss of data event
Number of cyber security incidence or breaches or loss of data event occurred during the quarter
Sr Date of the event Brief details of the event



Annexure II to be submitted by listed entity at the end of the financial year (for the whole of financial year)
I. Disclosure on website in terms of LODR Regulation
Sr Item Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here. Web address
1.1 Details of business Yes https://refex.co.in/#business
1.2 Memorandum of Association and Articles of Association Yes https://refex.co.in/investors/charter-documents
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://refex.co.in/about-us#board-members
2 Terms and conditions of appointment of independent directors Yes https://refex.co.in/investors/terms-and-conditions-of-appointment-of-id
3 Composition of various committees of board of directors Yes https://refex.co.in/about-us#board-members
4 Code of conduct of board of directors and senior management personnel Yes https://refex.co.in/uploads/pdfs/policies/pdf-1771580474425-462821754.pdf
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://refex.co.in/uploads/pdfs/policies/pdf-1771570560008-88422675.pdf
6 Criteria of making payments to non-executive directors NA
7 Policy on dealing with related party transactions Yes https://refex.co.in/wp-content/uploads/2026/01/RIL_RPT_Policy_Jan26.pdf
8 Policy for determining material subsidiaries Yes https://refex.co.in/wp-content/uploads/2025/05/Policy-on-Determining-Material-Subsidiary.pdf
9 Details of familiarization programmes imparted to independent directors Yes https://refex.co.in/investors/familiarization-programme-for-independent-directors
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://refex.co.in/investors/key-managerial-personnel
11 Email address for grievance redressal and other relevant details Yes https://refex.co.in/investors
12 Financial results Yes https://refex.co.in/investors/financial-information
13 Shareholding pattern Yes https://refex.co.in/investors/stock-exchange-quarterly-compliance
14 Details of agreements entered into with the media companies and/or their associates NA
15.1 Schedule of analyst or institutional investor meet and presentation prepared by listed entity for analyst or institutional investor meet Yes https://refex.co.in/investors/investor-presentation
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://refex.co.in/investors/recording-transcripts-of-post-earnings-quarterly-calls
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://refex.co.in/investors/newspaper-publication
18 Credit rating or revision in credit rating obtained Yes https://refex.co.in/investors/credit-ratings
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://refex.co.in/investors/financial-statement-of-subsidiary
20 Secretarial compliance report Yes https://refex.co.in/investors/secretarial-compliance-report
21 Materiality policy as per regulation 30 (4) Yes https://refex.co.in/wp-content/uploads/2025/05/Revised-Policy-on-Determining-Materiality-01-06-2024-1.pdf
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://refex.co.in/wp-content/uploads/2025/05/Revised-Policy-on-Determining-Materiality-01-06-2024-1.pdf
23 Disclosures under regulation 30(8) Yes https://refex.co.in/investors/disclosure-of-material-events-or-information
24 Statements of deviation(s) or variations(s) as specified in regulation 32 Yes https://refex.co.in/investors/stock-exchange-quarterly-compliance
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://refex.co.in/wp-content/uploads/2025/04/Dividend-Distribution-Policy.pdf
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://refex.co.in/investors/annual-return
26.2 Employee benefit scheme documents framed in terms of SEBI (SBEB) regulations 2021
27 Confirmation that the above disclosures are in a separate section as specified in regulation 46(2) Yes https://refex.co.in/investors
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://refex.co.in/investors
29 Disclosure of notes on website in terms of Listing Regulations explanatory


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) Yes
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) NA
35 Other Corporate Governance requirements with respect to subsidiary of listed entity 24(2),(3),(4),(5) & (6) Yes
36 Alternate Director to Independent Director 25(1) NA
37 Maximum Tenure 25(2) Yes
38 Appointment, Re-appointment or removal of an Independent Director through special resolution or the alternate mechanism 25(2A) Yes
39 Meeting of independent directors 25(3) & (4) Yes
40 Familiarization of independent directors 25(7) Yes
41 Declaration from Independent Director 25(8) & (9) Yes
42 Directors and Officers insurance 25(10) Yes
43 Confirmation with respect to appointment of Independent Directors who resigned from the listed entity 25(11) NA
44 Memberships in Committees 26(1) Yes
45 Affirmation with compliance to code of conduct from members of Board of Directors and Senior management personnel 26(3) Yes
46 Policy with respect to Obligations of directors and senior management 26(2) & 26(5) Yes
47 Approval of the Board and shareholders for compensation or profit sharing in connection with dealings in the securities of the listed entity 26(6) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) NA
Any other information to be provided - Add Notes



Annexure II
III. Affirmations
Sr Particulars Compliance status (Yes/No/NA)
1 The Listed Entity has approved Material Subsidiary Policy and the Corporate Governance requirements with respect to subsidiary of Listed Entity have been complied Yes
Any other information to be provided



Annexure II
1 Name of signatory Ankit Poddar
2 Designation Company Secretary and Compliance Officer



Additional Half yearly Disclosure
Any Other Information for Disclosure of Loans / Guarantees / Comfort Letters / Securities Etc.
I. Disclosure of Loans/ guarantees/comfort letters /securities etc.refer note below
(A)Any loan or any other form of debt advanced by the listed entity directly or indirectly to
Entity Aggregate amount advanced during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them 0 0
Promoter Group or any other entity controlled by them 0 0
Directors (including relatives) or any other entity controlled by them 0 0
KMPs or any other entity controlled by them 0 0
(B) Any guarantee / comfort letter (by whatever name called) provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed By
Entity Type (guarantee, comfort letter etc.) Aggregate amount of issuance during six months Balance outstanding at the end of six months(taking into account any invocation)
Promoter or any other entity controlled by them NA 0 0
Promoter Group or any other entity controlled by them NA 0 0
Directors (including relatives) or any other entity controlled by them NA 0 0
KMPs or any other entity controlled by them NA 0 0
(C) Any security provided by the listed entity directly or indirectly, in connection with any loan(s) or any other form of debt availed by
Entity Type of security (cash, shares etc.) Aggregate value of security provided during six months Balance outstanding at the end of six months
Promoter or any other entity controlled by them NA 0 0
Promoter Group or any other entity controlled by them NA 0 0
Directors (including relatives) or any other entity controlled by them NA 0 0
KMPs or any other entity controlled by them NA 0 0
(D) Additional Information
II. Affirmations
Affirmations Compliance Status Company Remarks
All loans (or other form of debt), guarantees, comfort letters (by whatever name called) or securities in connection with any loan(s) (or other form of debt) given directly or indirectly by the listed entity to promoter(s), promoter group, director(s) (including their relatives), key managerial personnel (including their relatives) or any entity controlled by them are in the economic interest of the company. Yes
Name Dinesh Kumar Agarwal
Designation Chief Financial Officer
Place Chennai
Date 16-Apr-2026



Signatory Details
Name of signatory Ankit Poddar
Designation of person Company Secretary and Compliance Officer
Place Chennai
Date 16-Apr-2026


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 0
No. of investor complaints received during the Quarter 0
No. of investor complaints disposed off during the Quarter 0
No. of investor complaints those remaining unresolved at the end of the Quarter 0


Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies-
The details of acquisition of shares or voting rights in unlisted companies during the quarter in terms of sub-para 1 of para A of Part A of Schedule III are given below
Any Other Information for Disclosure of Acquisition of Shares or Voting Rights in Unlisted Companies
Sr. No. Name of the unlisted company in which shares or voting rights have been acquired Date of acquisition Aggregate holding (% shares or voting rights) as at the end of the previous quarter % shares or voting rights acquired during the quarter Aggregate holding (% shares or voting rights) as at the end of the quarter
1 Venwind Refex Power Limited 30-Mar-2026 73.2800 4.1100 77.3900


Disclosure of Imposition of Fine or Penalty
The details of imposition of fine or penalty during the quarter in terms of sub-para 20 of para A of Part A of Schedule III are given below:
Any Other Information for Disclosure of Imposition of Fine or Penalty
Sr. No. Name of the authority Nature and details of the action(s) taken or order(s) passed Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority Details of the violation(s)/ contravention(s) committed or alleged to be committed Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible


Disclosure of Updates to Ongoing Tax Litigations or Disputes
The updates on tax litigations or disputes in terms of sub-para 8 of para B of Part A of Schedule III read with corresponding provisions of Annexure 18 of the Master Circular are given below:

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 Deputy Commissioner of Income tax - Central Circle 3(4) 31-Mar-2022 A Demand Notice for the sum of Rs.751.16 lakhs has been issued pertaining to the assessment year 2014-15 (FY 2013-14), in connection with reassessment under Section 147 r.w.s 143(3) of the Income Tax Act, 1961. Appeal Pending before CIT(A)
2 Deputy Commissioner of Income tax - Central Circle 3(4) 30-Sep-2022 A Demand Notice for the sum of Rs.4086.66 lakhs has been issued pertaining to the assessment year 2020-21 (FY 2019-20), in connection with reassessment under Section 143(3) of the Income Tax Act, 1961. Appeal Pending before CIT(A)
3 Deputy Commissioner of Income tax - Central Circle 3(4) 31-Dec-2022 A Demand Notice for the sum of Rs.1,136.78 lakhs has been issued pertaining to the assessment year 2021-22 (FY 2020-21), in connection with reassessment under Section 143(3) of the Income Tax Act, 1961. Appeal Pending before CIT(A)
4 Joint Commissioner of Central Tax, Chennai 31-Mar-2023 GST demand order received u/s 74 dated March 31st 2023 which was received on May 15, 2023 alleging wrongful availment and utilisation of Input tax credit withoiut the receipt of goods/services for the period July 2017 to March 2019. The total amount involves in the demand is of Rs.7,12,92,240/- which involves penalty of Rs.3,56,46,120/- . Out of the total demand amount tax liability of Rs.3,32,37,000/- was already discharged through DRC-03 Aggrieved against the order passed by the appellate authority, the company intends to vigorously contest its position and believes it can strongly defend the same through legal process considering the merits of the case. In view of the above,the Company will be contesting the disallowances made in the Order by filing an appeal before GSTAT. The required pre-deposit amount for filing an appeal before the GST Appellate Tribunal (GSTAT) has already been paid. The case is currently pending the constitution of the GSTAT, after which the appeal will be formally filed.
5 Deputy Commissioner of Income tax - Central Circle 3(4) 31-May-2023 A writ has been filed to quash the order dated 31.05.2023 for an amount of Rs. 3567.22 Lakhs for AY 2016-17, issued by the Deputy Commissioner of Income Tax, as it was completed without providing an opportunity u/s 144A of the Income Tax Act. Writ petition pending before Madras High Court
6 State tax officer(C-829), Nodal-04, Mumbai 29-Apr-2024 GST demand order received u/s 73 dated April 29th, 2024 which is received on April 29th, 2024 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2018 to March 2019. The total amount involves in the demand is Rs.3,57,46,813/- which includes interest and penalty of Rs.2,13,12,972/- Writ petition pending before Bombay High Court
7 Deputy Commissioner of Commercial Taxes, Circle-B, Rajasthan 24-Dec-2024 GST assessment order received u/s 74 dated December 24th, 2024 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period July 2017 to March 2018. The total amount involves in the demand is Rs.5,25,72,714/- which includes interest and penalty of Rs.3,61,43,742/- Appeal pending before Appellate Authority, Jaipur
8 Deputy Commissioner of Commercial Taxes, Circle-B, Rajasthan 27-Dec-2024 GST assessment order received u/s 74 dated December 27th, 2024 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2018 to March 2019. The total amount involves in the demand is Rs.20,78,253/- which includes interest and penalty of Rs.13,90,090/- Appeal pending before Appellate Authority, Jaipur
9 Deputy Commissioner of Commercial Taxes, Circle-B, Rajasthan 27-Dec-2024 GST assessment order received u/s 74 dated December 27th, 2024 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2019 to March 2020. The total amount involves in the demand is Rs.92,54,115/- which includes interest and penalty of Rs.59,95,624/- Appeal pending before Appellate Authority, Jaipur
10 Deputy Commissioner of Commercial Taxes, Circle-B, Rajasthan 27-Dec-2024 GST assessment order received u/s 74 dated December 27th, 2024 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2020 to March 2021. The total amount involves in the demand is Rs.3,91,93,369/- which includes interest and penalty of Rs.2,44,59,011/- Appeal pending before Appellate Authority, Jaipur
11 Deputy Commissioner of Commercial Taxes, Circle-B, Rajasthan 27-Dec-2024 GST assessment order received u/s 74 dated December 27th, 2024 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2021 to March 2022. The total amount involves in the demand is Rs.7,65,086/- which includes interest and penalty of Rs.4,68,253/- Appeal pending before Appellate Authority, Jaipur
12 Deputy Commissioner of Income tax - Central Circle 3(4) 31-Mar-2024 A Demand Notice for the sum of Rs. 4731.69 Lakhs has been issued pertaining to the assessment year 2019-20 (FY 2018-19), in connection with reassessment under Section 147 of the Income Tax Act, 1961.Subsequently rectification order has passed and demand has been reduced to Rs. 4628.17 Lakhs. Appeal Pending before CIT(A)
13 Additional Commissioner, CGST and Central Excise, Bhopal 27-Mar-2025 GST demand order received u/s 74 dated March 27th, 2025 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2018 to March 2021. The total amount involves in the demand is Rs.29,31,92,582/- which includes penalty of Rs.14,65,96,291/-. Appeal pending before The Commissioner(Appeals), CGST, Customs & Central Excise, Bhopal
14 Assistant Commissioner, Visakhapatnam central GST division, Visakhapatnam 28-Mar-2025 GST demand order received u/s 74 dated March 28th, 2025 alleging wrongful availment and utilisation of Input tax credit without the receipt of goods/services for the period April 2018 to March 2019. The total amount involves in the demand is penalty of Rs.71,16,353/-. Appeal pending before the Commissioner of Central Excise, Customs & Service Tax(Appeals), Visakhapatnam
15 Joint Commissioner, Bengaluru West GST Commissionerate, Bengaluru 18-Jul-2025 GST demand order received u/s 74 dated July 18th, 2025 alleging availment of inadmissable input tax credit for the period April 2019 to March 2021. The total amount involves in the demand is Rs.8,92,79,004/- which includes penalty of Rs.4,46,39,502/-. Appeal pending before Commissioner of Central Tax (Appeals), Mysore.
16 Joint Commissioner, CGST Raipur Commissionerate,Raipur 19-Nov-2025 GST demand order received u/s 74 dated Nov 19th, 2025 alleging availment of inadmissable input tax credit for the period April 2018 to March 2019 and Apr19 to Mar20. The total amount involves in the demand is Rs./-9,06,91,418 which includes penalty of Rs.50345709/-. Appeal pending before Commissioner(Appeal) of Customs & Indirect Taxes, GST Bhavan, Dhamtari Road, Tikrapara, Raipur.
17 Assistant Commissioner, Central Goods & Service Tax & Central Excise, Divisio-II, Civil Lines, Raipur 11-Dec-2025 GST demand order received u/s 73 dated Dec 11th, 2025 alleging availment of inadmissable input tax credit for the period April 2021 to March 2022. The total amount involves in the demand is Rs35,29,002./- which includes penalty of Rs.31.90,002/-. Appeal pending before Commissioner(Appeal) of Customs & Indirect Taxes, GST Bhavan, Dhamtari Road, Tikrapara, Raipur.
18 Deputy Commissioner State Tax, Circle-B, Jodhpur-II 18-Dec-2025 GST demand order received u/s 74(9) dated Dec 18th, 2025 alleging availment of inadmissable input tax credit for the period April 2018 to March 2019. The total amount involves in the demand is Rs.54,32,943 ./- which includes penalty of Rs.16,88,866/-. Appeal pending before Additional Commissioner, Collectorate Campus,Paota, Jodhpur
19 Deputy Commissioner of Income tax - Central Circle 3(4) 23-Mar-2026 A Demand Notice of Rs. 72.69 lakhs received for Assessment Year 2018-19 (FY 2017-18) pursuant to reassessment proceedings initiated u/s 153C of the Income-tax Act, 1961. The Company believes that it has strong merits in the matter and is currently evaluating appropriate legal remedies, including filing an appeal against the said demand. Yet to file an appeal before CIT(A)