Integrated Filing-Governance



General information about company

Scrip Code 544606
NSE Symbol PINELABS
MSEI Symbol NOTLISTED
ISIN INE15B701018
Name of the entity PINE LABS 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? Yes
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 Any other
Is SCORE ID Available ? Yes
SCORE Registration ID comp00997
Reason For No SCORE ID
Type of Submission Original
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. BAIRAVARASU AMRISH RAU 02008811 Executive Director Chairperson CEO-MD 07-Oct-1973 No Active NA 24-Mar-2025 1 0 1 0
2 Mr. KUSH MEHRA 08154941 Executive Director Not Applicable 03-Apr-1981 No Active NA 09-May-2025 1 0 0 0
3 Mr. MANINDER SINGH JUNEJA 02680016 Non-Executive - Independent Director Not Applicable 31-Jan-1966 No Active NA 24-Mar-2025 12.07 2 1 2 0
4 Ms. AMRITA GANGOTRA 08333492 Non-Executive - Independent Director Not Applicable 03-Aug-1965 No Active NA 24-Mar-2025 12.07 6 6 9 3
5 Ms. SMITA CHANDRAMANI KUMAR 10347292 Non-Executive - Independent Director Not Applicable 24-May-1963 No Active NA 24-Mar-2025 12.07 1 1 1 1
6 Mr. SHAILENDRA JIT SINGH 01930079 Non-Executive - Non Independent Director Not Applicable 20-Jul-1976 No Active NA 13-Jun-2025 1 0 1 1



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory



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 10347292 SMITA CHANDRAMANI KUMAR Non-Executive - Independent Director Chairperson 24-Mar-2025
2 02680016 MANINDER SINGH JUNEJA Non-Executive - Independent Director Member 24-Mar-2025
3 08333492 AMRITA GANGOTRA Non-Executive - Independent Director Member 24-Mar-2025



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 02680016 MANINDER SINGH JUNEJA Non-Executive - Independent Director Chairperson 13-Jun-2025
2 01930079 SHAILENDRA JIT SINGH Non-Executive - Non Independent Director Member 13-Jun-2025
3 08333492 AMRITA GANGOTRA Non-Executive - Independent Director Member 13-Jun-2025



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 01930079 SHAILENDRA JIT SINGH Non-Executive - Non Independent Director Chairperson 13-Jun-2025
2 02008811 BAIRAVARASU AMRISH RAU Executive Director Member 13-Jun-2025
3 02680016 MANINDER SINGH JUNEJA Non-Executive - Independent Director Member 13-Jun-2025



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 10347292 SMITA CHANDRAMANI KUMAR ID Chairperson 13-Jun-2025
2 02680016 MANINDER SINGH JUNEJA ID Member 13-Jun-2025
3 02008811 BAIRAVARASU AMRISH RAU ED Member 13-Jun-2025



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 13-Oct-2025 Yes 6 6 3
2 15-Oct-2025 1 Yes 6 6 3
3 16-Oct-2025 0 Yes 6 6 3
4 31-Oct-2025 14 Yes 6 6 3
5 01-Nov-2025 0 Yes 6 5 3
6 06-Nov-2025 4 Yes 6 6 3
7 11-Nov-2025 4 Yes 6 5 3
8 12-Nov-2025 0 Yes 6 4 2
9 03-Dec-2025 20 Yes 6 6 3
10 17-Dec-2025 13 Yes 6 4 3
11 28-Jan-2026 41 Yes 6 6 3
12 27-Mar-2026 57 Yes 6 5 3



Annexure 1
IV. Meeting of Committees
Disclosure of notes on meeting of committees explanatory There were 2 Board meetings held on October 31, 2025. The details are as under: Date(s) of meeting 31-10-2025 31-10-2025 Maximum gap between any two consecutive (in number of days) 14 0 Notes for not providing Date - - Whether requirement of Quorum met (Yes/No) Yes Yes Total Number of Directors as on date of the meeting 6 6 Number of Directors present* (All directors including Independent Director) 6 6 No. of Independent Directors attending the meeting 3 3
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 13-Oct-2025 Yes 3 3 3 0
2 Audit Committee 31-Oct-2025 17 Yes 3 3 3 0
3 Audit Committee 03-Dec-2025 32 Yes 3 3 3 0
4 Audit Committee 17-Dec-2025 13 Yes 3 3 3 0
5 Audit Committee 28-Jan-2026 41 Yes 3 3 3 0
6 Nomination and remuneration committee 17-Dec-2025 Yes 3 3 2 0
7 Nomination and remuneration committee 28-Jan-2026 41 Yes 3 3 2 0
8 Nomination and remuneration committee 02-Mar-2026 32 Yes 3 3 2 0
9 Stakeholders Relationship Committee 27-Jan-2026 Yes 3 3 1 0
10 Risk Management Committee 27-Jan-2026 Yes 3 3 2 0
11 Risk Management Committee 27-Mar-2026 58 Yes 3 3 2 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. No
9 Any comments/observations/advice of Board of Directors may be mentioned here:



Annexure 1
Sr Subject Compliance status
1 Name of signatory NEERAV MEHTA
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 Yes
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 1
Sr Date of the event Brief details of the event
1 24-Feb-2026 The third party vendor of Pine Labs Limited (“Company”) i.e. ESOP Direct (Qapita), engaged by the Company for maintaining ESOP related data, conveyed to the Company that they had a data breach incident in their environment and that data related to eligible employees of the Company and its subsidiaries was exposed, encompassing scheme documents and vestwise report of few employees of the Company and its subsidiaries. There is no material impact on the Company.



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://www.pinelabs.com/
1.2 Memorandum of Association and Articles of Association Yes https://www.pinelabs.com/investor-relations/documents?tab=charter-documents
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.pinelabs.com/investor-relations/corporate-governance
2 Terms and conditions of appointment of independent directors Yes https://www.pinelabs.com/investor-relations/documents?tab=other-documents
3 Composition of various committees of board of directors Yes https://www.pinelabs.com/investor-relations/corporate-governance?tab=composition-of-committees
4 Code of conduct of board of directors and senior management personnel Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
6 Criteria of making payments to non-executive directors Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
7 Policy on dealing with related party transactions Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
8 Policy for determining material subsidiaries Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
9 Details of familiarization programmes imparted to independent directors Yes https://www.pinelabs.com/investor-relations/documents?tab=other-documents
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.pinelabs.com/investor-relations/contacts
11 Email address for grievance redressal and other relevant details Yes https://www.pinelabs.com/investor-relations/contacts
12 Financial results Yes https://www.pinelabs.com/investor-relations/financial-results
13 Shareholding pattern Yes https://www.pinelabs.com/investor-relations/corporate-announcements
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://www.pinelabs.com/investor-relations/financial-results
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://www.pinelabs.com/investor-relations/financial-results
16 New name and the old name of the listed entity Yes https://www.pinelabs.com/investor-relations/contacts
17 Advertisements as per regulation 47 (1) Yes https://www.pinelabs.com/investor-relations/corporate-announcements
18 Credit rating or revision in credit rating obtained NA
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.pinelabs.com/investor-relations/financial-results?tab=annual-results-of-material-subsidiaries
20 Secretarial compliance report NA
21 Materiality policy as per regulation 30 (4) Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
22 Disclosure of contact details of KMP who are authorized for the purpose of determining materiality as required under regulation 30(5) Yes https://www.pinelabs.com/investor-relations/contacts
23 Disclosures under regulation 30(8) Yes https://www.pinelabs.com/investor-relations/corporate-announcements
24 Statements of deviation(s) or variations(s) as specified in regulation 32 Yes https://www.pinelabs.com/investor-relations/corporate-announcements
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.pinelabs.com/investor-relations/documents?tab=policies
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.pinelabs.com/investor-relations/financial-results?tab=annual-returns
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://www.pinelabs.com/investor-relations
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.pinelabs.com/investor-relations
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) NA
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) NA
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) NA
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) Yes
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 Neerav Mehta
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 0 0 0
Promoter Group or any other entity controlled by them 0 0 0
Directors (including relatives) or any other entity controlled by them 0 0 0
KMPs or any other entity controlled by them 0 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 0 0 0
Promoter Group or any other entity controlled by them 0 0 0
Directors (including relatives) or any other entity controlled by them 0 0 0
KMPs or any other entity controlled by them 0 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 Sameer Vasudev Kamath
Designation Chief Financial Officer
Place Mumbai
Date 29-Apr-2026



Signatory Details
Name of signatory NEERAV MEHTA
Designation of person Company Secretary and Compliance Officer
Place MUMBAI
Date 29-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 Agya Technologies Private Limited 20-Feb-2026 25.400 74.600 100


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
1 The Joint Commissioner of Commercial Taxes (Appeals) - 4, Bengaluru Imposition of interest and penalty 04-Feb-2026 Alleged violation under section 73 of CGST Act, 2017 Tax - INR 14,89,36,336/- Interest - INR 20,95,08,326/- Penalty - INR 1,48,93,634/- The company is into the process of filing an appeal to GSTAT against the order. The due date of filing the appeal is 30.06.2026. There is no material impact on financials, operations or other activities of the Company on account of the said order.
2 The Deputy Commissioner of Commercial Taxes (Audit), Bengaluru Imposition of interest and penalty 12-Feb-2026 Penalty under section 73 of CGST Act, 2017 Tax - INR 88,754/- Interest - INR 64,485/- Penalty - INR 56,282/- we have paid the amount and matter is closed. There is no material impact on financials, operations or other activities of the Company on account of the said order.
3 Reserve Bank of India Imposition of penalty under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007 27-Mar-2026 Violation under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007. Based on the supervisory findings under RBI directions on issuance of Prepaid Payment Instruments (PPIs), it was found that the Company had issued certain Full-KYC Prepaid Payment Instruments without completing the Know Your Customer (KYC) verification of the respective PPI holders. Penalty - Rs. 3,10,000/- (Rupees Three Lakh Ten Thousand only). There is no material impact on financials, operations or other activities of the Company on account of the said order.


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 The Joint Commissioner of Commercial Taxes (Appeals)-4, Bengaluru 08-Nov-2022 This is an ongoing disclosed matter whereby the company filed an appeal against the order of the Assistant Commissioner of Commercial Taxes, Bengaluru The Joint Commissioner of Commercial Taxes (Appeals)-4, Bengaluru has passed an order dated 28.01.2026 providing the partial relief and confirming the balance issues with demand of INR 37,33,38,296/- (incl interest and penalty). Below is the summary: Tax - INR 14,89,36.336/- Interest - INR 20,95,08,327/- Penalty - INR 1,48,93,634/- We are in the process to file the appeal before GSTAT against the order. Due date to file the appeal is 30.06.2026.
2 The Goods & Services State Tax Officer, Maharashtra 27-Feb-2025 Filed an Appeal against the order on 15.01.2026 and till now matter not listed yet Office of the State Tax Officer, Mumbai has passed an order dated 20/08/2025 confirming the balance demand of INR 49,33,847/- (incl interest and penalty). Below is the summary: Tax - INR 28,99,427/- Interest - INR 17,39,656/- Penalty - INR 2,94,764/- The company has filed an appeal to Appellate Authority (GST Appeal) on 15.01.2026. The matter is not listed yet. There is no material impact on financials, operations or other activities of the Company on account of the said order.