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SHRIRAM LIMITED2024-04-012025-03-31Quarterly2024-12-31EquitytruetruefalseThere was no acquisition of shares/voting rights in any unlisted Company during the quarter ended on December 31, 2024.truetruetrueTop 500 listed entitiestrued00028OriginaltruetrueMrAjay Shridhar Shriram00027137Executive DirectorChairpersonCEO-MD1954-03-04falseActiveNA1989-07-242023-11-011010MrVikram Shridhar Shriram00027187Executive DirectorNot ApplicableMD1958-12-06falseActiveNA1990-05-222023-11-011010MrAjit Shridhar Shriram00027918Executive DirectorNot ApplicableMD1967-10-03falseActiveNA2001-05-022021-05-021010MrAditya Ajay Shriram10157483Executive DirectorNot ApplicableMD1982-02-22falseActiveNA2023-07-022023-07-021000MrPradeep Dinodia00027995Non-Executive - Non Independent DirectorNot Applicable1953-12-02falseActiveYes2024-07-161994-07-182024-07-163073MsRamni Nirula00015330Non-Executive - Independent DirectorNot Applicable1952-05-27falseActiveNA2015-02-032020-02-03118.294421MrPravesh Sharma02252345Non-Executive - Independent DirectorNot Applicable1959-07-07falseActiveNA2016-08-092021-08-09100.231120MrVikramajit Sen00866743Non-Executive - Independent DirectorNot Applicable1950-12-31falseActiveNA2016-08-092021-08-09100.231100MrPranam Wahi00031914Non-Executive - Independent DirectorNot Applicable1958-08-02falseActiveNA2024-07-162024-07-165.162220MsSeema Bahuguna09527493Non-Executive - Independent DirectorNot Applicable1959-09-14falseActiveNA2024-07-162024-07-165.162251MsSimrit Kaur10628625Non-Executive - Independent DirectorNot Applicable1963-08-06falseActiveNA2024-07-162024-07-165.162211MrVipin Sondhi00327400Non-Executive - Independent DirectorNot Applicable1960-04-27falseActiveNA2024-07-162024-07-165.163321MrRabi Narayan Mishra10377015Non-Executive - Nominee DirectorNot Applicable1963-12-29falseActiveNA2023-11-012023-11-011000MrKrishan Kumar Sharma07951296Executive DirectorNot Applicable1965-10-17falseActiveNA2017-11-202022-11-201000truetruetruetruetrueAudit Committee00015330Ramni NirulaNon-Executive - Independent DirectorChairperson2016-08-09She was appointed as Chairperson of the Committee effective from conclusion of 35th AGM held on 16.07.2024Audit Committee02252345Pravesh SharmaNon-Executive - Independent DirectorMember2017-02-13Audit Committee00031914Pranam WahiNon-Executive - Independent DirectorMember2024-07-16Audit Committee00327400Vipin SondhiNon-Executive - Independent DirectorMember2024-07-16Nomination and remuneration committee02252345Pravesh SharmaNon-Executive - Independent DirectorChairperson2024-07-16Nomination and remuneration committee00027137Ajay Shridhar ShriramExecutive DirectorMember2014-11-12Nomination and remuneration committee00031914Pranam WahiNon-Executive - Independent DirectorMember2024-07-16Nomination and remuneration committee00327400Vipin SondhiNon-Executive - Independent DirectorMember2024-07-16Stakeholders Relationship Committee00027995Pradeep DinodiaNon-Executive - Non Independent DirectorChairperson2001-07-31Stakeholders Relationship Committee02252345Pravesh SharmaNon-Executive - Independent DirectorMember2024-07-16Stakeholders Relationship Committee00027137Ajay Shridhar ShriramExecutive DirectorMember1990-05-22Stakeholders Relationship Committee00027187Vikram Shridhar ShriramExecutive DirectorMember1990-05-22Stakeholders Relationship Committee00027918Ajit Shridhar ShriramExecutive DirectorMember2016-08-09Risk Management Committee07951296Krishan Kumar SharmaExecutive DirectorChairperson2019-01-29He was appointed as Chairman of the Committee effective from 02.07.2023.Risk Management Committee00031914Pranam WahiNon-Executive - Independent DirectorMember2024-07-16Risk Management Committee99999999Roshan Lal TamakBusiness Head - SugarMember2021-07-20Mr. Roshan Lal Tamak is Business Head of Sugar Business and he is not a director in the Company hence not having DIN.Corporate Social Responsibility Committee00027137Ajay Shridhar ShriramExecutive DirectorChairperson2014-04-28Corporate Social Responsibility Committee00027187Vikram Shridhar ShriramExecutive DirectorMember2014-04-28Corporate Social Responsibility Committee00027918Ajit Shridhar ShriramExecutive DirectorMember2014-04-28Corporate Social Responsibility Committee00866743Vikramajit SenNon-Executive - Independent DirectorMember2016-08-09Corporate Social Responsibility Committee02252345Pravesh SharmaNon-Executive - Independent DirectorMember2016-08-09Corporate Social Responsibility Committee10377015Rabi Narayan MishraNon-Executive - Nominee DirectorMember2024-07-16Corporate Social Responsibility Committee09527493Seema BahugunaNon-Executive - Independent DirectorMember2024-07-16Corporate Social Responsibility Committee10628625Simrit KaurNon-Executive - Independent DirectorMember2024-07-162024-07-23true141472024-10-3098true14147Audit Committee2024-07-23true4440Audit Committee2024-10-3098true4440Stakeholders Relationship Committee2024-07-09true4410Stakeholders Relationship Committee2024-08-1435true5510Stakeholders Relationship Committee2024-09-1329true5510Stakeholders Relationship Committee2024-10-3046true5510Stakeholders Relationship Committee2024-12-0939true5410Risk Management Committee2024-10-15true2211truetruetruetrueYestruetruetrueDeepak GuptaCompany Secretary and Compliance OfficerfalseDeepak GuptaCompany Secretary and Compliance OfficerNew Delhi2025-02-0607522Additional Commissioner- CGST, Sector - 14, Hiran Magri, Udaipur, RajasthanThe Company is in receipt of a GST demand order for FY 2017-18 from the said Authority of tax demand of Rs. 0.65 lac, interest thereon and penalty of Rs. 0.65 lac in respect of disallowance of Transitional Credit on Traded Stock of Pre-GST period.2024-11-18The Authority has disallowed the Transitional Credit on Traded Stock of Pre-GST without considering the facts of the matter. The Company is evaluating remedial procedures.NoneDistrict Consumer Disputes Redressal Commission, Malerkotla, PunjabOrdered to pay compensation of Rs. 38,400 with 6% interest thereon and Rs. 10,000 as litigation cost to farmer for delay in supply of germination crop. The Company has paid in aggregate Rs. 54,000 in compliance of the said order.2024-10-18Delay in supply of germination crop to farmer.There is no material impact on financials, operations, or other activities of the Company.Legal Metrology Department, Mathura (UP)Penalty imposed for incorrect font size being not as per prescribed size on pre packaged traded goods. The matter was compounded and compounding fee of Rs. 1 lac was imposed which was paid.2024-12-15Violation of Rule 7 of Packaged Commodities Rules, 2011 for incorrect font sizeThere is no material impact on financials, operations, or other activities of the Company.Date of initiation of dispute is different for different years. Since only one date can be given in date of initiation of the litigation/dispute, date of appeal filed by the department pertaining to first year when the disupute was raised has been given. Dates of initiation of litigation for subsequent Assessment Years are given below: (i) AY 2015-16- Appeal filed by Department on 05.05.2022 to ITAT, (ii) AY 2016-17- Appeal filed by Company on 14.06.2021 to ITAT, (iii) AY 2017-18- Appeal filed by Company on 10.09.2021 to CIT(A) and (iv) AY 2018-19- Appeal filed by Company on 25.10.2022 to ITAT Deputy Commissioner of Income Tax, Circle 7(1), New Delhi2021-06-14The Company currently has on-going Income-tax litigation for Assessment Years (AY 15-16 to AY 18-19) at various appellate forums (viz. Commissioner of Income Tax (Appeals) & Income Tax Appellate Tribunal (ITAT). The material issue involved in litigation, having a likely cumulative tax effect of Rs.188.49 crores, is on account of transfer pricing adjustments on industrial consumables intra transferred between units of the Company. The said issue (of transfer pricing adjustments on industrial consumables) has been decided in favour of the Company in AY 14-15 by ITAT and forms a favourable precedent for subsequent years in dispute. Assessment years prior to AY 2014-15 do not involve transfer pricing issues or any other material tax litigation. There is no change in status of the matters stated above and they are currently pending before CIT(A) & ITAT. Date of initiation of dispute is different for different years. In the column date of intiation of litigation/ dispute we have mentioned the date of appeal filed by the department pertaining to first year when the disupute was raised.(i) Matters related to Assessment Years 2015-16, 2016-17 & 2018-19 are fixed for hearing in March 2025 before ITAT, Delhi. (ii) Matter related to AY 2017-18 has been heard by the CIT(A). Order is awaited.Principal Commissioner of Income Tax - 1, New Delhi2023-11-08For Assessment Year 2014-15, issue of transfer pricing adjustments on industrial consumables was decided in favour of the Company by the Income Tax Appellate Tribunal (ITAT) on Oct 28, 2021. Principal Commissioner of Income Tax-1, New Delhi, has filed an appeal against the said ITAT order before the Hon’ble High Court of Delhi. The appeal involves a tax effect of Rs. 44.95 crores. which the Company would be defending. The matter is presently listed for hearing in the Hon'ble High Court of Delhi. (i) The Hon'ble High Court of Delhi vide its orders dated 09.10.2023 and 02.05.2024, granted relief on grounds raised against transfer princing adjustment relating to Steam and other issues having total tax effect of Rs. 35.93 crore. (ii) The balance issue of transfer pricing adjustment relating to Power having tax effect of Rs. 9.02 crores. has also been decided now in favour of the Company by the Hon'ble High Court of Delhi vide its order dated 21.01.2025.Deputy Commissioner of Income Tax, Circle 7(1), New Delhi2024-03-11Post filing rectification application dated February 23, 2024, the Assessing Officer (AO) has on March 11, 2024, rectified the previous order passed u/s 254/143(3) dated February 16, 2024 (received on February 19, 2024). An order u/s 154 r.w.s. 254/143(3) of the Income-tax Act, 1961, has been issued, whereby the full effect of the relief granted by the Delhi Income-tax Appellate Tribunal (ITAT) vide its order pronounced on October 28, 2021 has been given. Consequently the resultant income and tax thereon has been re-computed. The erroneous demand of Rs.87.53 crores. previously raised now stands deleted to the extent of Rs 87.20 crores. The order u/s 154 r.w.s. 254/143(3) of the Income-tax Act, 1961 dated March 11, 2024 has computed a demand of only Rs.0.33 crores. This demand is claimed to be payable against the amount excess refunded earlier by the tax dept., a fact currently being looked into by the Company.(i) The said demand of Rs. 0.33 crores had arisen on account of excess amount refunded earlier vide order u/s 154/143(3) r.w.s 144C dated 13.11.2018 issued by the Income Tax Department and now has been recovered vide rectification order dated 11.03.2024. The Company has choosen not to contest the same and it had been adjusted against the refund due for AY 2023-24.Deputy Commissioner of Income Tax, Circle 7(1), New Delhi2024-07-24The Company is in receipt of an Assessment Order issued u/s 143(3) read with Section 144C(13) read with section 144B of the Income-tax Act, 1961 for AY 2020-21 (FY 2019-20) dated 24th July, 2024. The Assessing Officer (AO) in the said order has given partial effect to the Directions of the Dispute Resolution Panel-I (DRP), New Delhi issued vide order dated 30th June, 2024, u/s 144C(5), and assessed a total income of Rs.953.47 Crore as against the returned total income of Rs.301.48 crore, thereby, creating a demand of Rs. 261.65 crore (including interest) without taking into account the following: a) Giving effect to MAT credit brought forward under Sec.115JAA b) Not rectifying unwarranted additions made in the intimation u/s 143(1) dated 25.12.2021 having a tax effect of Rs. 168.01 crores. c) Not giving effect to the directions given by DRP on issues relating to the multiplicity of additions having tax effect of Rs. 18.92 crores. d) By charging interest on the erroneous demand. The Company will take the appropriate legal course of action(s) against the said assessment order u/s 143(3) dated 24.07.2024. Simultaneously, the Company will also file an application to the Assessing Officer to rectify the erroneously computed demand along with the filing application for stay of demand before Assessing Officer.(i) An Appeal before Income Tax Appellate Tribunal, Delhi (ITAT) has been filed against order u/s 143(3) r.w.s 144C(13). The matter is fixed for hearing in March, 2025. (ii) Stay petitions has been filed before ITAT on 18.12.2024 against erroenous demand determined via intimation u/s 143(1) and order u/s 143(3) of Income-tax Act. The matter is fixed for hearing in February, 2025. (iii) An appeal before ITAT has been filed against erroenous intimation u/s 143(1) of Income-tax Act. The matter was heard in December, 2024. Order is awaited.Deputy Commissioner of Income Tax, Circle 7(1), New Delhi2024-10-24The Company is in receipt of an Assessment Order issued u/s 143(3) read with Section 144C(13) and Section 144B of the Income Tax Act, 1961 for AY 2021-22 (FY 2020-21) dated 24th October, 2024. The Assessing Officer (AO) in the said order has given partial effect to the Directions of the Dispute Resolution Panel-I (DRP), New Delhi issued vide order u/s 144C(5) dated 30th September, 2024 and assessed an income of Rs.319.37 Crore as against the returned income of Rs.45.98 Crore by making various transfer pricing adjustments and not rectifying unwarranted additions made in the intimation u/s 143(1) dated 25th October, 2022 amounting to Rs.238.02 Crore and having a tax effect of Rs.83.17 Crore. However, this has not resulted in any additional tax payable currently. The Company will file an appeal to the Income Tax Appellate Tribunal in the due course of time.(i) An Appeal before Income Tax Appellate Tribunal, Delhi (ITAT) has been filed in November 2024 against order u/s 143(3) r.w.s 144C(13). The matter is yet to be listed. (ii) An appeal before ITAT has been filed on 03.04.2024 against erroenous intimation u/s 143(1) of IT Act. The matter was heard in December 2024. Order is awaited.