Integrated Filing-Governance



General information about company

Scrip Code 544283
NSE Symbol ACMESOLAR
MSEI Symbol NOTLISTED
ISIN INE622W01025
Name of the entity ACME SOLAR HOLDINGS 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 During the quarter, no fines or penalty were imposed
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 500 listed entities
Is SCORE ID Available ? Yes
SCORE Registration ID coma01231
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. Manoj Kumar Upadhyay 01282332 Executive Director Chairperson MD 01-Jun-1970 No Active NA 03-Dec-2015 01-Dec-2022 1 0 0 0
2 Mr. Nikhil Dhingra 07835556 Executive Director Not Applicable CEO 22-Jul-1980 No Active NA 25-Apr-2024 1 0 1 0
3 Mr. Shashi Shekhar 01747358 Executive Director Not Applicable 28-Dec-1956 No Active NA 09-Apr-2018 09-Apr-2021 1 0 1 0
4 Mr. Atul Sabharwal 07845048 Non-Executive - Independent Director Not Applicable 01-May-1975 No Active NA 18-Sep-2017 25-Apr-2024 102 1 1 1 0
5 Mrs. Anuranjita Kumar 05283847 Non-Executive - Independent Director Not Applicable 02-Nov-1971 No Active NA 25-Apr-2024 24 3 3 6 2
6 Mr. Hemant Sahai 00088238 Non-Executive - Independent Director Not Applicable 23-Nov-1963 No Active NA 19-Jan-2025 15 3 3 6 4



Annexure 1

II. Composition of Committees
Disclosure of notes on composition of committees explanatory Hemant Sahai was appointed as member of the Audit Committee on May 30, 2025. He was designated as Chairperson of the Audit Committee on March 23, 2026.Atul Sabharwal was appointed as Chairperson of the Audit Committee on June 26, 2024. He was designated as member of the Audit Committee on March 23, 2026..The Committees which are mandatory under the SEBI Listing Regulations and Companies Act, 2013, have only been considered for reporting under this Section.



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 00088238 Hemant Sahai Non-Executive - Independent Director Chairperson 30-May-2025 Textual Information(1)
2 07845048 Atul Sabharwal Non-Executive - Independent Director Member 26-Jun-2024 Textual Information(2)
3 05283847 Anuranjita Kumar Non-Executive - Independent Director Member 23-Mar-2026
4 07835556 Nikhil Dhingra Executive Director Member 26-Jun-2024 23-Mar-2026



Text Block
Textual Information(1) Hemant Sahai was appointed as member of the Audit Committee on May 30, 2025. He was designated as Chairperson of the Audit Committee on March 23, 2026
Textual Information(2) Atul Sabharwal was appointed as Chairperson of the Audit Committee on June 26, 2024. He was designated as member of the Audit Committee on March 23, 2026



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 07845048 Atul Sabharwal Non-Executive - Independent Director Chairperson 26-Jun-2024
2 05283847 Anuranjita Kumar Non-Executive - Independent Director Member 26-Jun-2024
3 00088238 Hemant Sahai Non-Executive - Independent Director Member 30-May-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 05283847 Anuranjita Kumar Non-Executive - Independent Director Chairperson 26-Jun-2024
2 01747358 Shashi Shekhar Executive Director Member 26-Jun-2024
3 07835556 Nikhil Dhingra Executive Director Member 26-Jun-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 00088238 Hemant Sahai ID Chairperson 30-May-2025 Textual Information(1)
2 07845048 Atul Sabharwal ID Member 26-Jun-2024
3 07835556 Nikhil Dhingra ED Member 26-Jun-2024 Textual Information(2)
4 99999999 Rajat Kumar Singh Chief financial officer-Senior Management Member 30-May-2025 Textual Information(3)



Text Block
Textual Information(1) Hemant Sahai was appointed as member of the Risk Management Committee on May 30, 2025. He was designated as the Chairman of the Risk Management Committee in place of Nikhil Dhingra, with effect from March 23, 2026
Textual Information(2) Nikhil Dhingra was appointed as Chairman of the Risk Management Committee on June 26, 2024. He has been designated as member of the Risk Management Committee w.e.f. March 23, 2026
Textual Information(3) Rajat Kumar Singh, Chief financial officer-Senior Management



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 03-Nov-2025 Yes 6 6 3
2 29-Jan-2026 86 Yes 6 6 3
3 23-Mar-2026 52 Yes 6 6 3



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 03-Nov-2025 Yes 3 3 2 0
2 Audit Committee 19-Dec-2025 Yes 3 3 2 0
3 Audit Committee 29-Jan-2026 40 Yes 3 3 2 0
4 Audit Committee 23-Mar-2026 Yes 3 3 2 0
5 Nomination and remuneration committee 23-Mar-2026 Yes 3 3 3 0
6 Stakeholders Relationship Committee 06-Mar-2026 Yes 3 3 1 0
7 Risk Management Committee 15-Oct-2025 Yes 3 2 1 1
8 Risk Management Committee 16-Mar-2026 Yes 3 3 2 1



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 Rajesh Sodhi
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.acmesolar.in/overview
1.2 Memorandum of Association and Articles of Association Yes https://www.acmesolar.in/assets/pdf/disclosure/Memorandum-and-Articles-of-Association.pdf
1.3 Brief profile of board of directors including directorship and full time positions in body corporates Yes https://www.acmesolar.in/board-of-directors
2 Terms and conditions of appointment of independent directors Yes https://www.acmesolar.in/assets/pdf/Policies/Terms-and-Conditions-of-appointment-of-Independent-Director.pdf
3 Composition of various committees of board of directors Yes https://www.acmesolar.in/committees#CommitteeSecetion
4 Code of conduct of board of directors and senior management personnel Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_Code_of_Conduct_Policy.pdf
5 Details of establishment of vigil mechanism or whistle blower policy Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_Whistle_Blower_Vigil_Mechanism_Policy.pdf
6 Criteria of making payments to non-executive directors Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_Nomination_and_Renumeration_Policy.pdf
7 Policy on dealing with related party transactions Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_%20Related_Party_Transactions_Policy.pdf
8 Policy for determining material subsidiaries Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_Determining_Material_Subsidiaries_Policy.pdf
9 Details of familiarization programmes imparted to independent directors Yes https://www.acmesolar.in/assets/pdf/Policies/ACME_Solar_Holdings_Independent_Directors_Policy.pdf
10 Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances Yes https://www.acmesolar.in/shareholders-information#tab-3
11 Email address for grievance redressal and other relevant details Yes https://www.acmesolar.in/shareholders-information#tab-3
12 Financial results Yes https://www.acmesolar.in/investor-presentation#tab-3
13 Shareholding pattern Yes https://www.acmesolar.in/shareholders-information#tab-0
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.acmesolar.in/shareholders-information#tab-2
15.2 Audio or video recordings and transcripts of post earnings/quarterly calls Yes https://www.acmesolar.in/Webcasts-and-Transcripts#WebcastTranscript
16 New name and the old name of the listed entity NA
17 Advertisements as per regulation 47 (1) Yes https://www.acmesolar.in/shareholders-information#tab-2
18 Credit rating or revision in credit rating obtained Yes https://www.acmesolar.in/investor-presentation#tab-4
19 Separate audited financial statements of each subsidiary of the listed entity Yes https://www.acmesolar.in/investor-presentation#tab-5
20 Secretarial compliance report Yes https://www.acmesolar.in/shareholders-information#tab-7
21 Materiality policy as per regulation 30 (4) Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_Determination_of_Materiality_of_Events_Information_Policy.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://www.acmesolar.in/assets/pdf/disclosure/Disclosure-of-contact-details-of-KMP.pdf
23 Disclosures under regulation 30(8) Yes https://www.acmesolar.in/shareholders-information#tab-2
24 Statements of deviation(s) or variations(s) as specified in regulation 32 Yes https://www.acmesolar.in/shareholders-information#tab-7
25 Dividend distribution policy as specified in regulation 43A (1) Yes https://www.acmesolar.in/assets/pdf/Policies/ACMESolarHoldings_Dividend_Distribution_Policy.pdf
26.1 Annual return as provided under section 92 of the Companies Act 2013 Yes https://www.acmesolar.in/annual-returns#AnnualReturns
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.acmesolar.in/disclosures-under-regulation-46-of-the-LODR
28 Compliance with regulation 46(3) with respect to accuracy of disclosures on the website and timely updation Yes https://www.acmesolar.in/disclosures-under-regulation-46-of-the-LODR
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) Yes
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) Yes
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) Yes
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 Rajesh Sodhi
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 Rajat Kumar Singh
Designation Chief Financial Officer
Place Gurugram
Date 29-Apr-2026



Signatory Details
Name of signatory Rajesh Sodhi
Designation of person Company Secretary and Compliance Officer
Place Gurugram
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 ACME Greentech Fifteen Private Limited 01-Jan-2026 0 100 100
2 ACME Greentech Eighteen Private Limited 01-Jan-2026 0 100 100


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


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 Commissioner of Income Tax (Appeals) 25-Jan-2019 ACME Solar Energy Private Limited, WOS of ASHL (“Appellant”) filed an appeal dated January 25, 2019 before Commissioner of Income Tax (Appeals) against Assistant Commissioner of Income Tax, Circle-1 (1) Gurgaon (“Respondent”) against order under section 143(3) of the Income Tax ACT, 1961, dated December 25, 2018 passed by Assistant Commissioner of Income Tax, Circle -1(1) for the assessment year 2016-17. Submission made on 24/07/2025, next date of hearing awaited. The matter is still pending and there is no change.
2 Commissioner of Income Tax (Appeals) 25-Jan-2019 ACME Raipur Solar Power Private Limited, WOS of ASHL (“Appellant”) filed an appeal dated January 25, 2019 before Commissioner of Income Tax (Appeals) against Assistant Commissioner of Income Tax , Circle-1 (1) Gurgaon (“Respondent”) against order under section 143(3) dated December 23, 2018 passed by Assistant Commissioner of Income Tax for the assessment year 2016-17. Submission made on November 21, 2024, next date of hearing is awaited. The matter is still pending and there is no change.
3 Senior Intelligence Officer, DGGI, Jaipur, Rajasthan 13-Nov-2024 The officials of DGGI, Jaipur are conducting an inquiry in connection with certain alleged inadmissible ITC. The search was initiated on November 13, 2024 and concluded on November 14, 2024. Company had received a show cause cum demand notice dated March 23, 2026 (received on March 28, 2026) from the Directorate General of Goods and Services Tax Intelligence, Jaipur Zonal Unit, alleging short payment of GST aggregating to approximately Rs. 149.73 crore (along with applicable interest and penalty) for the period April 2021 to March 2025. Subsequently, on April 13, 2026, the Company filed a civil writ petition before the Hon’ble High Court of Rajasthan challenging the said notice. Further, the Hon’ble High Court of Rajasthan, vide its order dated April 20, 2026, has granted an interim stay on the operation and effect of the said show cause cum demand notice until further orders.
4 Union of India & Ors. [W.P. (C) 4714/2019] 02-May-2019 Our Company, Solar Power Developers Association and Avaada Clean Energy Private Limited (“Petitioners”) filed a petition dated May 02, 2019 under Article 226 of the Constitution of India before the High Court of Judicature at Delhi against the Union of India (Ministry of Finance), GST Council and Central Board of Indirect Taxes and Customs (“Respondents”) challenging the validity of (i) explanation to serial no. 234 of notification no. 1/2017 – Central Tax (Rate) dated June 28, 2017 inserted pursuant to notification no. 24/2018 Central Tax (Rate) dated December 31, 2018, and (ii) explanation to serial no. 38 of notification no. 11/2017 inserted pursuant to notification no. 11/2017 – Central Tax (Rate) dated June 28, 2017, and inserted pursuant to notification no. 27/2018 – Central Tax (Rate) dated December 31, 2018 (“Impugned Notifications”), alleging that such Impugned Notifications were illegal and violative of Article 14, 19(1)(g), 246 and 265 of the Constitution of India and Section 15 of the Central Goods and Services Tax, Act, 2017. The Impugned Notifications under solar power generating system contract, the value of good is deemed to be 70% and taxable at 5% while the value of services is deemed to be 30% and taxed at 18%. The said breakup of 70:30 significantly differed from the actual split of 93:7. The matter is currently pending. Matter heard on November 20, 2024, December 13, 2024, March 03, 2025, May 08, 2025 and November 17, 2025 where it got adjourned to February, 02, 2026. Hearing adjourned to March 25, 2026 and further adjourned to July 16, 2026
5 Union of India & Ors. [CWP No. 17037 of 2024] 20-Jul-2024 Writ petition has been filed on 20.07.2024, Matter heard on 23.07.2024 and 11.09.2024. On 11.09.2024 counsel for respondent sought time to file the Counter. Bench has granted last opportunity to the Respondents to file the reply and directed to list the matter on 20.01.2025. Matter adjourned to 21.02.2025, however matter could not be taken up. matter listed for hearing on 08.04.2025 but did not reach for hearing, Hearing scheduled for 19.05.2025, adjourned to 16.07.2025, adjourned to 28.10.2025 and again adjourned to 08.01.2026. Latest date of hearing was 21.04.2026. Matter did not reach for hearing on 21.04.2026 and got adjourned to 10.09.2026
6 Joint Commissioner, Circle - Phalodi, State Tax, Jodhpur - I 18-Jun-2024 ACME Jodhpur (subsidiary Company) received a show cause notice dated from Joint Commissioner, State Tax, Jodhpur – I, Rajasthan and reply has been submitted. However, department has issued DRC-01A under section 74 demanding Rs. 65 million of tax, Rs. 35.1 million of interest and Rs. 9.76 million of penalty on August 07, 2024. Reply for DRC-01A was submitted on August 12, 2024. Show Cause Notice u/s 74 was issued on 29-09-2025. Company submitted reply on 24.10.2025. The Order dated April 22, 2026, whereby the entire demand has been dropped (100% in favour of the Company), has been received by the Company on April 22, 2026.
7 Union of India & Ors. (CWP 12257/2019) 17-Aug-2019 Our Company (“Petitioner”) filed a petition on August 17, 2019, under Article 226 of the Constitution of India before the High Court of Judicature for Rajasthan at Jodhpur against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management and Jupiter Solar Power Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018 and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25/20/15% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending and at the stage of final arguments. The last date of hearing was 14.11.2024 and no further hearing date was intimated. The next date of hearing has not yet been intimated.
8 Union of India & Ors. (CWP 13592/2019) 11-Sep-2019 Our Company (“Petitioner”) filed a petition on September 11, 2019, under Article 226 of the Constitution of India before the High Court of Judicature for Rajasthan at Jodhpur against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management and M/s Jupiter Solar Power Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018 and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25/20/15% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending and at the stage of final arguments. The last date of hearing was October 21, 2024 and no further hearing date was intimated. The next date of hearing has not yet been intimated.
9 Union of India & Ors. (WP No. 7565 of 2019) 04-Jul-2019 Our Company (“Petitioner”) filed a petition on July 4, 2019 under Article 226 of the Constitution of India before the High Court of Judicature at Bombay against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management, Jupiter Solar Power Limited and IndoSolar Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018, and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending. Matter is at the stage of final arguments. The last date of hearing was 12.04.2024. The matter was listed on 19.01.2026 and the next date of hearing was 02.02.2026 for arguments. The matter did not get listed on 02.02.2026 and the next date of hearing has not been intimated yet.
10 ACME Solar Holdings Ltd. (SLP 24009-24010 OF 2018) 23-Aug-2018 Union of India (Ministry of Finance), Director General of Trade Remedies, Union of India (Ministry of Commerce & Industry) and Union of India (Ministry of Non and Renewable Energy) (“Petitioners”) filed a special leave petition under Article 136 of the Constitution of India before the Supreme Court of India, against our Company, Solar Energy Corporation of India (“SECI Limited”), Central Electricity Regulatory Commission, NTPC Vidyut Vyapar Nigam Limited, Grid Corporation of Odisha Limited, Orissa Discom, Central Electricity Supply Utility of Odisha Limited, North Eastern Electricity Supply Company of Odisha Limited, Western Electricity Supply Company of Odisha Limited, Southern Electricity Supply Company of Odisha Limited and Maharashtra State Electricity Distribution Company Limited (collectively, the “Respondents”) challenging the interim order dated July 23, 2018 (“Interim Order”) passed by the High Court of Orissa at Cuttack (“High Court”). An application dated Nov 28, 2017 was filed on December 15, 2017 by the Indian Solar Manufacturers Association before the Director General under rule 5 of Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997 seeking an imposition of ‘Safeguard Duty’ on imports of the ‘solar cells’ to project the domestic industry. Pursuant to such application, a detailed investigation was conducted by the Director General and it was recommended to impose ‘Safeguard Duty’ on imports of the ‘solar cells’ in terms of rule 12 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997. The High Court pursuant to its Interim Order had restrained the Petitioners from issuing any notification under rule 12 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, pursuant to the final findings of Directorate General of Safeguards pursuant to notification dated July16, 2018. The matter was last listed on 11.08.2025 and the Next date of hearing was 04.11.2025 and no further hearing date was intimated. The next date of hearing has not yet been intimated.
11 Union of India & Ors. (WP(C) 12817 of 2018) 20-Jul-2018 Our Company (“Petitioner”) filed a petition on July 20, 2018 under Article 226 of the Constitution of India before the High Court of Orissa, Cuttack, against the Director General of Trade Remedies, Union of India (Ministry of Commerce & Industry), Union of India (Ministry of Finance), Union of India (Ministry of Non and Renewable Energy), SECI Limited, Central Electricity Regulatory Commission, NTPC Vidyut Vyapar Nigam Limited, Grid Corporation of Odisha Limited, Orissa Discom, Central Electricity Supply Utility of Odisha Limited, North Eastern Electricity Supply Company of Odisha Limited, Western Electricity Supply Company of Odisha Limited and Maharashtra State Electricity Distribution Company Limited (“Respondents”) seeking appropriate writ or directions to quash the final findings under Rule 11 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, pursuant to a public notice no. F/22//1/2018- Directorate General of Trade Remedies dated July 16, 2018, issued by the Director General of Trade Remedies (“Respondent 1”) pursuant to which, it imposed safeguard duty at 25% ad valorem on the import of solar cells whether or not assembled in modules or panels into India from China PR and Malaysia. The matter is currently pending. Interim order was stayed by the SC. The matter was last listed on 19.09.2018 and has not been listed since then. The next date of hearing has not yet been intimated.
12 ACME Solar Holdings Ltd(SLP(C) No. 023675 - 023676 / 2019) 07-Sep-2018 Jupiter Solar Power Limited (“Petitioner”) filed a petition under Article 136 of the Constitution of India before the Supreme Court of India against our Company, Director General of Trade Remedies, Union of India (Ministry of Commerce & Industry), Union of India (Ministry of Finance), Union of India (Ministry of Non and Renewable Energy), SECI Limited, Central Electricity Regulatory Commission, NTPC Vidyut Vyapar Nigam Limited, Grid Corporation of Odisha Limited, Orissa Discom, Central Electricity Supply Utility of Odisha Limited, North Eastern Electricity Supply Company of Odisha Limited, Western Electricity Supply Company of Odisha Limited, Southern Electricity Supply Company of Odisha Limited, Maharashtra State Electricity Distribution Company Limited, Indosolar Limited, Hero Solar Energy Private Limited and Vikram Solar Limited (collectively, the “Respondents”) against the interim order dated July 23, 2018 passed by the High Court of Orissa at Cuttack (“HC”) wherein the HC has granted an ex-parte stay by way of a non-speaking order restraining the Union Of India, viz, Director General of Trade Remedies (“Respondent 2”), Union of India (Ministry of Commerce & Industry) (“Respondent 3”), Union of India (Ministry of Finance) (“Respondent 4”), Union of India (Ministry of Non and Renewable Energy) (“Respondent 5”) from issuing notification levying safeguard duty on imports of solar cell under Section 8 B (1) of the Customs Tariff Act, 1975 read with Rule 12 of the Customs Tariff (identification and Assessment of Safeguard Duty) Rules, 1977, whether or not arranged in modules or panels. The matter is currently pending. The last date of hearing was 14 Aug 2025 and no further hearing date was intimated. The next date of hearing has not yet been intimated.
13 Union of India & Ors. (WP No.-3084/2019) 12-Apr-2019 Our Company (“Petitioner”) filed a petition dated April 12, 2019, under Article 226 of the Constitution of India before the High Court of Judicature at Bombay, Nagpur Bench, against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management, Jupiter Solar Power Limited and IndoSolar Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by the Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018, and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending. Pleadings are yet to complete. Ad-interim stay granted vide order dated April 16, 2019. The matter is still pending and the last date of hearing was May 06, 2025 and no further hearing date was intimated. The tentative next date of hearing in this matter is 22.04.2026
14 Union of India & Ors. (WP(C) 12047 of 2019) 22-Aug-2019 Our Company filed a petition on August 22, 2019, before Andhra Pradesh High Court, wherein our Company has challenged final finding of DGTR dated July 16, 2018, and the safeguard notification July 30, 2018, issued by the Central Government under section 8 (B) of the Customs Tariff Act and determining the safeguard duty @ of 25% ad valorem on the imported solar cells and modules. The matter is currently pending. The matter was last listed on 27.08.2019 and no further hearing date was intimated. The next date of hearing has not yet been intimated.
15 Solar Energy Corporation of India Limited and Rajasthan Urja Vikas Nigam Limited Petition No.2205 of 2024 07-Feb-2024 The matter has been disposed of, with the final order passed on November 13, 2025, whereby the Rajasthan Electricity Regulatory Commission (RERC) allowed Change in Law compensation of approximately Rs. 39.92 crores, comprising Rs. 30.98 crores towards Basic Customs Duty (BCD) and Rs. 8.94 crores towards Goods and Services Tax (GST), representing the reconciled and undisputed amounts between the parties. RERC has also allowed carrying cost from the date of incurrence up to the date of the order amounting to approximately Rs. 7.50 crores. Consequently, the total amount allowed to the Company is approximately Rs. 47.40 crores. The Company received the first annuity payment of Rs. 37,49,063 from SECI on January 12, 2026. No further update on this matter.