Integrated Filing-Governance



General information about company

Scrip Code 512070
NSE Symbol UPL
MSEI Symbol NOTLISTED
ISIN INE628A01036
Name of the entity UPL LIMITED
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Reporting Quarter Yearly
Date of Quarter Ending 31-Mar-2025
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 Nil
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 Nil
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 u00207
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 Mr. Hardeep Singh was initially appointed as an Independent Director on 02-02-2015. Upon completion of his tenure as an Independent Director on 01-02-2025, he has been appointed as Non-Executive and Non-Independent Director with effect from 02-02-2025. Accordingly, 02-02-2025 has been considered as his initial date of appointment in the role.
Whether the listed entity has a Regular Chairperson Yes
Whether Chairperson is related to MD or CEO No 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. Jaidev Rajnikant Shroff 00191050 Non-Executive - Non Independent Director Chairperson related to Promoter 04-Oct-1965 No Active NA 01-Oct-1992 18-Aug-2023 4 0 2 0
2 Mr. Vikram Rajnikant Shroff 00191472 Non-Executive - Non Independent Director Not Applicable 11-Feb-1973 No Active NA 22-Apr-2006 27-Aug-2024 1 0 1 0
3 Mr. Raj Kumar Tiwari 09772257 Executive Director Not Applicable 17-Sep-1970 No Active NA 01-Nov-2022 01-Nov-2022 1 0 1 0
4 Mr. Hardeep Singh 00088096 Non-Executive - Non Independent Director Not Applicable 08-Sep-1954 No Active NA 02-Feb-2015 02-Feb-2025 2 0 4 2 Textual Information(1)
5 Mr. Vasant Prakash Gandhi 00863653 Non-Executive - Independent Director Not Applicable 10-Dec-1954 No Active NA 23-Nov-2015 31-Aug-2020 105 1 1 1 0
6 Mrs. Naina Lal Kidwai 00017806 Non-Executive - Independent Director Not Applicable 16-Apr-1957 No Active NA 01-Oct-2021 01-Oct-2021 42 3 3 2 1
7 Mr. Suresh Kumar 00512630 Non-Executive - Independent Director Not Applicable 04-Apr-1956 No Active NA 20-Oct-2022 20-Oct-2022 29 2 2 2 0
8 Mrs. Usha Rao Monari 08652684 Non-Executive - Independent Director Not Applicable 27-Jul-1959 No Active NA 18-Aug-2023 18-Aug-2023 19 1 1 2 0
9 Mrs. M.V. Bhanumathi 10172983 Non-Executive - Independent Director Not Applicable 27-May-1962 No Active NA 01-Feb-2025 01-Feb-2025 2 3 3 5 2
10 Mr. Santosh Kumar Mohanty 06690879 Non-Executive - Independent Director Not Applicable 09-Jul-1961 No Active NA 06-Mar-2025 06-Mar-2025 1 2 2 5 2
11 Mr. Carlos Pellicer 09775747 Non-Executive - Non Independent Director Not Applicable 27-Aug-1962 No Active NA 01-Nov-2022 01-Nov-2022 31-Jan-2025 1 0 0 0 Textual Information(2)



Text Block
Textual Information(1) Completion of tenure as an Independent Director on 01/02/2025 and appointed as Non-Executive Director from 02/02/2025
Textual Information(2) Mr. Carlos Pellicer is a Foriegn National and does not have a PAN in India.



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 10172983 M.V. Bhanumathi Non-Executive - Independent Director Chairperson 02-Feb-2025
2 00863653 Vasant Prakash Gandhi Non-Executive - Independent Director Member 28-Apr-2017
3 00512630 Suresh Kumar Non-Executive - Independent Director Member 01-Dec-2022
4 08652684 Usha Rao Monari Non-Executive - Independent Director Member 31-Oct-2023
5 00088096 Hardeep Singh Non-Executive - Non Independent Director Member 20-Jul-2018



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 00512630 Suresh Kumar Non-Executive - Independent Director Chairperson 02-Feb-2025
2 00863653 Vasant Prakash Gandhi Non-Executive - Independent Director Member 01-Dec-2022
3 08652684 Usha Rao Monari Non-Executive - Independent Director Member 10-Aug-2024
4 00088096 Hardeep Singh Non-Executive - Non Independent Director Member 28-Apr-2017



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 00017806 Naina Lal Kidwai Non-Executive - Independent Director Chairperson 01-Dec-2022
2 00191472 Vikram Rajnikant Shroff Non-Executive - Non Independent Director Member 01-Oct-2020
3 09772257 Raj Kumar Tiwari Executive Director Member 01-Dec-2022



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 00863653 Vasant Prakash Gandhi ID Chairperson 12-May-2021
2 09772257 Raj Kumar Tiwari ED Member 12-May-2021
3 99999999 Anand Vora 8 Member 12-May-2021
4 09775747 Carlos Pellicer NED Member 01-Dec-2022 31-Jan-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 09-Nov-2024 Yes 9 9 5
2 11-Nov-2024 1 Yes 9 9 5
3 31-Jan-2025 80 Yes 9 9 5
4 05-Mar-2025 32 Yes 9 9 5
5 27-Mar-2025 21 Yes 10 10 6



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 11-Nov-2024 Yes 4 4 4 0
2 Audit Committee 31-Jan-2025 80 Yes 4 4 4 0
3 Audit Committee 05-Mar-2025 32 Yes 5 5 5 0
4 Audit Committee 27-Mar-2025 21 Yes 5 5 5 0
5 Nomination and remuneration committee 06-Jan-2025 Yes 3 3 3 0
6 Nomination and remuneration committee 31-Jan-2025 24 Yes 3 3 3 0
7 Nomination and remuneration committee 05-Mar-2025 32 Yes 4 4 4 0
8 Risk Management Committee 11-Mar-2025 5 Yes 3 3 1 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: There were no comments / observations / advice of Board of Directors in the report for the quarter ended 31st December, 2024 placed at the meeting of the Board of Directors held on 31st January, 2025. The report for the quarter ended 31st March, 2025 will be placed at the ensuing meeting of the Board of Directors.



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


Annexure II
II. Annual Affirmations
Sr Particulars Regulation Number Compliance status (Yes/No/NA) If status is No details of non-compliance may be given here.
1 Independent director(s) have been appointed in terms of specified criteria of independence and/or eligibility 16(1)(b) Yes
2 Board Composition 17(1), 17(1A) & 17(1C), 17(1D) & 17(1E) Yes
3 Meeting Of Board Of Directors 17(2) Yes
4 Quorum of board meeting 17(2A) Yes
5 Review of Compliance Reports 17(3) Yes
6 Plans for orderly succession for appointments 17(4) Yes
7 Code of Conduct 17(5) Yes
8 Fees/compensation 17(6) Yes
9 Minimum Information 17(7) Yes
10 Compliance Certificate 17(8) Yes
11 Risk Assessment & Management 17(9) Yes
12 Performance Evaluation of Independent Directors 17(10) Yes
13 Recommendation of Board 17(11) Yes
14 Maximum number of Directorships 17A Yes
15 Composition of Audit Committee 18(1) Yes
16 Meeting of Audit Committee 18(2) Yes
17 Role of Audit Committee and information to be reviewed by the audit committee 18(3) Yes
18 Composition of nomination & remuneration committee 19(1) & (2) Yes
19 Quorum of Nomination and Remuneration Committee meeting 19(2A) Yes
20 Meeting of Nomination and Remuneration Committee 19(3A) Yes
21 Role of Nomination and Remuneration Committee 19(4) Yes
22 Composition of Stakeholder Relationship Committee 20(1), 20(2) & 20(2A) Yes
23 Meeting of Stakeholders Relationship Committee 20(3A) Yes
24 Role of Stakeholders Relationship Committee 20(4) Yes
25 Composition and role of risk management committee 21(1),(2),(3),(4) Yes
26 Meeting of Risk Management Committee 21(3A) Yes
27 Quorum of Risk Management Committee meeting 21(3B) Yes
28 Gap between the meetings of the Risk Management Committee 21(3C) Yes
29 Vigil Mechanism 22 Yes
30 Policy for related party Transaction 23(1), (1A), (5), (6), & (8) Yes
31 Prior or Omnibus approval of Audit Committee for all related party transactions 23(2), (3) Yes
32 Approval for material related party transactions 23(4) Yes
33 Disclosure of related party transactions on consolidated basis 23(9) Yes
34 Composition of Board of Directors of unlisted material Subsidiary 24(1) 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) NA
48 Vacancies in respect Key Managerial Personnel 26A(1) & 26A(2), 26A(3) NA
Any other information to be provided - Add Notes



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



Annexure II
1 Name of signatory Sandeep Deshmukh
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 Anand Vora
Designation Chief Financial Officer
Place Mumbai
Date 28-Apr-2025



Signatory Details
Name of signatory Sandeep Deshmukh
Designation of person Company Secretary and Compliance Officer
Place Mumbai
Date 28-Apr-2025


Investor Grievance Details
No. of investor complaints pending at the beginning of Quarter 4
No. of investor complaints received during the Quarter 32
No. of investor complaints disposed off during the Quarter 35
No. of investor complaints those remaining unresolved at the end of the Quarter 1


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


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

Any Other Information for Disclosure of Updates to Ongoing Tax Litigations or Disputes
Sr. No. Name of the opposing party Date of initiation of the litigation / dispute Status of the litigation / dispute as per last disclosure Current status of the litigation / dispute
1 Deputy Commissioner of Income Tax, Circle - 6(3), Mumbai 16-Aug-2023 The Company has received favorable order for AY 2016-17 and AY 2020-21. Balance years are pending for disposal before Commissioner of Income Tax (Appeals). The amount involved for the balance assessment years stands reduced to Rs. 258.83 crore. Based on legal advice, the proceedings had been challenged before Commissioner of Income Tax (Appeals) and balance years are pending for adjudication. The Company has been advised by legal counsel that it has strong grounds to succeed in these balance matters as well. Income Tax authorities in the block assessment u/s 153A of the Income Tax Act 1961 has passed assessment orders for AY 2014-15 to AY 2020-21 making additions / disallowances for corporate tax and transfer pricing issues. The Company has received favorable order. Basis the favourable order, the tax liability on account of disputes has reduced from INR 258.83 crs to INR Nil.