Integrated Filing-Governance



General information about company

Scrip Code 500201
NSE Symbol INDIAGLYCO
MSEI Symbol NOTLISTED
ISIN INE560A01023
Name of the entity INDIA GLYCOLS 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? No
Reason For Part C Of Annexure I Disclosure Of Acquisition Of Shares OrVotingRightsInUnlistedCompaniesIsNotApplicableToTheEntity No, Acquistion was made during the quarter ended on 31st March, 2026.
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? No
Reason For Part F Of Annexure I Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity No, Loan, Gurantees/Comfort Letters/ Securities etc. was made during the quarter ended on 31st March, 2026.
Risk management committee Yes
Market Capitalisation as per immediate previous Financial Year Top 1000 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID i00057
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 On the recommendation of the Nomination and Remuneration Committee, the Board of Directors in its meeting held on 16th May, 2025 re-appointed Shri U.S. Bhartia (DIN:00063091) as Chairman and Managing Director of the Company for a further period of 5 (Five) years w.e.f. 1st April, 2026 till 31st March, 2031 which was also approved by the Members on 22nd July 2025 through postal ballot.
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. UMA SHANKAR BHARTIA 00063091 Executive Director Chairperson related to Promoter MD 13-Dec-1953 No Active NA 29-Nov-1996 2 0 6 1
2 Mrs. JAYSHREE BHARTIA 00063018 Non-Executive - Non Independent Director Not Applicable 09-Sep-1956 No Active NA 28-May-1999 1 0 1 0
3 Mrs. SHUKLA WASSAN 02770898 Non-Executive - Independent Director Not Applicable 18-Dec-1959 No Active NA 01-Apr-2020 01-Apr-2025 72 3 3 5 3
4 Mrs. PRAGYA BHARTIA BARWALE 02109262 Executive Director Not Applicable 05-May-1982 No Active NA 24-Jun-2020 24-Jun-2025 2 0 0 0
5 Mr. ALOK SINGHAL 10359043 Executive Director Not Applicable 07-May-1969 No Active NA 01-Dec-2023 1 0 1 0
6 Mr. RAVI KUMAR 02362615 Non-Executive - Independent Director Not Applicable 15-Apr-1961 No Active NA 02-Feb-2024 02-Feb-2024 26 3 3 4 2
7 Mr. SAMRAT BANERJEE 06706345 Non-Executive - Independent Director Not Applicable 17-Jun-1975 No Active NA 01-Oct-2024 01-Oct-2024 18 1 1 3 0
8 Mr. SUSHIL DUTT SALWAN 10776621 Non-Executive - Independent Director Not Applicable 18-Oct-1960 No Active NA 01-Oct-2024 01-Oct-2024 18 1 1 0 0



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 02362615 RAVI KUMAR Non-Executive - Independent Director Chairperson 01-Oct-2024
2 06706345 SAMRAT BANERJEE Non-Executive - Independent Director Member 01-Oct-2024
3 10359043 ALOK SINGHAL Executive Director Member 01-Dec-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 02362615 RAVI KUMAR Non-Executive - Independent Director Chairperson 01-Oct-2024
2 02770898 SHUKLA WASSAN Non-Executive - Independent Director Member 01-Oct-2024
3 10776621 SUSHIL DUTT SALWAN Non-Executive - Independent Director Member 01-Oct-2024



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 02770898 SHUKLA WASSAN Non-Executive - Independent Director Chairperson 01-Oct-2024
2 06706345 SAMRAT BANERJEE Non-Executive - Independent Director Member 01-Oct-2024
3 00063091 UMA SHANKAR BHARTIA Executive Director Member 28-Apr-2001



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 00063091 UMA SHANKAR BHARTIA ED Chairperson 14-Feb-2015
2 02109262 PRAGYA BHARTIA BARWALE ED Member 01-Oct-2024
3 02362615 RAVI KUMAR ID Member 01-Oct-2024
4 02770898 SHUKLA WASSAN ID Member 01-Oct-2024
5 10359043 ALOK SINGHAL ED Member 01-Dec-2023
6 01667132 RUPARK SARSWAT Chief Executive Officer Member 12-Feb-2021 Textual Information(1)
7 02366573 ANAND SINGHAL CFO Member 14-Feb-2015 Textual Information(2)
8 99999999 ATUL GOVIL Head- IT & CTO Member 14-Feb-2015 Textual Information(3)



Text Block
Textual Information(1) Shri Rupark Sarswat is not a Board Member.
Textual Information(2) Shri Anand Singhal is not a Board Member.
Textual Information(3) Shri Atul Govil is not a Board Member.



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 16-Oct-2025 Yes 8 7 4
2 14-Nov-2025 Yes 8 7 4
3 10-Feb-2026 87 Yes 8 8 4
4 17-Mar-2026 34 Yes 8 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 16-Oct-2025 Yes 3 3 2 0
2 Audit Committee 14-Nov-2025 28 Yes 3 3 2 0
3 Audit Committee 10-Feb-2026 87 Yes 3 3 2 0
4 Nomination and remuneration committee 10-Feb-2026 Yes 3 3 3 0
5 Stakeholders Relationship Committee 14-Nov-2025 Yes 3 3 2 0
6 Stakeholders Relationship Committee 10-Feb-2026 Yes 3 3 2 0
7 Risk Management Committee 14-Nov-2025 Yes 5 5 2 2



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 Ankur Jain
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://www.indiaglycols.com/
1.2 Memorandum of Association and Articles of Association Yes https://www.indiaglycols.com/
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.indiaglycols.com/
2 Terms and conditions of appointment of independent directors Yes https://www.indiaglycols.com/
3 Composition of various committees of board of directors Yes https://www.indiaglycols.com/
4 Code of conduct of board of directors and senior management personnel Yes https://www.indiaglycols.com/
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.indiaglycols.com/
6 Criteria of making payments to non-executive directors Yes https://www.indiaglycols.com/
7 Policy on dealing with related party transactions Yes https://www.indiaglycols.com/
8 Policy for determining material subsidiaries Yes https://www.indiaglycols.com/
9 Details of familiarization programmes imparted to independent directors Yes https://www.indiaglycols.com/
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.indiaglycols.com/
11 Email address for grievance redressal and other relevant details Yes https://www.indiaglycols.com/
12 Financial results Yes https://www.indiaglycols.com/
13 Shareholding pattern Yes https://www.indiaglycols.com/
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.indiaglycols.com/
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://www.indiaglycols.com/
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.indiaglycols.com/
18 Credit rating or revision in credit rating obtained Yes https://www.indiaglycols.com/
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.indiaglycols.com/
20 Secretarial compliance report Yes https://www.indiaglycols.com/
21 Materiality policy as per regulation 30 (4) Yes https://www.indiaglycols.com/
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.indiaglycols.com/
23 Disclosures under regulation 30(8) Yes https://www.indiaglycols.com/
24 Statements of deviation(s) or variations(s) as specified in regulation 32 Yes https://www.indiaglycols.com/
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.indiaglycols.com/
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.indiaglycols.com/
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.indiaglycols.com/
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.indiaglycols.com/
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) 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) NA
Any other information to be provided - Add Notes Textual Information(1)



Text Block
Textual Information(1) No Change in KMPs during FY.



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 Ankur Jain
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
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(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
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(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
Promoter Group or any other entity controlled by them
Directors (including relatives) or any other entity controlled by them
KMPs or any other entity controlled by them
(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. $intratedCg.get("CG_YN_$!integratedFillingMasterDto.cgMasterVO.anx4aAffirmComplStatus")
Name
Designation
Place
Date



Signatory Details
Name of signatory Ankur Jain
Designation of person Company Secretary and Compliance Officer
Place Noida
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 11
No. of investor complaints disposed off during the Quarter 11
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


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 Commissioner (Appeals),Noida, Uttar Pradesh (Appellate Authority) The Appellate Authority vide order dated 27th February 2026 (received on 12th March, 2026) has partially upheld the Order-in-Original No. 69/ADC/NoidaCus/2023-24 dated 22nd March, 2024 passed by Additional Commissioner, Noida Customs Commissionerate, Uttar Pradesh. 12-Mar-2026 The Company had initially received an order dated 22nd March, 2024 from the Office of Additional Commissioner, Noida Customs Commissionerate, Uttar Pradesh (“Impugned Order”), confirming an amount of Rs. 33.43 crore as duty paid short along with applicable interest, imposing penalty of Rs. 82 crore and redemption fine of Rs.191.76 crore under the Customs Act, 1962. Subsequently, the Company filed an appeal against the Impugned Order and the Appellate Authority vide its order dated 27th February 2026 (received on 12th March, 2026) had partially allowed the Company’s appeal and upheld the Impugned Order with respect to demand of Rs. 33.43 crore as duty short paid along with applicable interest and penalty of Rs. 41 crores . The demand for penalty amount of Rs. 41 crore and redemption fine of Rs. 191.76 crore had been set aside. Consequently, there has been a reduction in the substantial amount of total demand against the Company in this matter. Based on the Company’s assessment and advice of the legal counsel, the Company has a strong case on merit and will file the second appeal against such demand of duty, interest and penalty confirmed by the Appellate Authority and does not reasonably anticipate any material impact on its financial or operational or other activities.


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 Additional Commissioner of Customs, Noida Custom Commissionerate 07-Jun-2024 A Show Cause notice was issued by Principal Commissioner alleging incorrect availment of Basic Customs Duty @2.5% instead of 5% during 01.07.2017 to 01.02.2021 on Import of DEA. Upon hearing, the Additional Commissioner had vide Order-in-Original dated 23.03.2024 confirmed an amount of Rs. 33.43 crore as duty paid short along with applicable interest, imposing penalty of Rs. 82 crore and redemption fine of Rs. 191.76 crore under the Customs Act, 1962. Subsequently, the Company filed an appeal before Commissioner (Appeals), Noida, Uttar Pradesh (“Appellate Authority”) against the Impugned Order-in-Original dated 23.03.2024. The Appellate Authority vide its Order-in-Appeal dated 27.02.2026 has partially allowed the Company's appeal and upheld the Impugned Order with respect to demand of Rs. 33.43 crore as duty short paid along with applicable interest and penalty of Rs. 41 crores.The demand for penalty amount of Rs. 41 crore and redemption fine of Rs. 191.76 crore had been set aside. Consequently, there has been a reduction in the substantial amount of total demand against the Company in this matter. Based on the Company’s assessment and advice of the legal counsel, the Company has a strong case on merit and is in process of filing appeal CESTAT, Allahabad against Order-in-Appeal dated 27.02.2026. The Company is in process of filling an appeal against the Order of the Appellate Authority.
2 Commissioner of CGST & Central Excise, E-Block, Nehru Colony, Haridwar Road, Dehradun, Uttarakhand (Commissioner). 09-May-2019 The Commissioner has filed an appeal challenging the order passed by the Customs, Excise & Service Tax Appellate Tribunal, New Delhi (CESTAT), New Delhi, setting aside the Commissioner's earlier order dated 9th May 2019. The Company has not yet received a notice from the Hon'ble High Court of Uttarakhand at Nainital but was informed by its consultant after the matter appeared on the Court's website. The matter pertains to the classification of 'RAB' under the Central Excise Tariff for the financial years 2005 to 2009. The CESTAT has already adjudicated in favor of the Company against the order of the Commissioner. Central Excise Duty amounting to Rs.10,39,32,564/- along with applicable interest and penalty. As the Company has already been awarded a favorable order on this matter by CESTAT, hence the Company, post discussions with the experts, believes that the above demand is not maintainable. Pending for adjudication.