5005752024-10-012024-12-315005752024-12-315005752024-10-012024-12-31CompositionOfBoardOfDirectors15005752024-12-31CompositionOfBoardOfDirectors15005752024-10-012024-12-31CompositionOfBoardOfDirectors25005752024-12-31CompositionOfBoardOfDirectors25005752024-10-012024-12-31CompositionOfBoardOfDirectors35005752024-12-31CompositionOfBoardOfDirectors35005752024-10-012024-12-31CompositionOfBoardOfDirectors45005752024-12-31CompositionOfBoardOfDirectors45005752024-10-012024-12-31CompositionOfBoardOfDirectors55005752024-12-31CompositionOfBoardOfDirectors55005752024-10-012024-12-31CompositionOfBoardOfDirectors65005752024-12-31CompositionOfBoardOfDirectors65005752024-10-012024-12-31CompositionOfBoardOfDirectors75005752024-12-31CompositionOfBoardOfDirectors75005752024-10-012024-12-31CompositionOfBoardOfDirectors85005752024-12-31CompositionOfBoardOfDirectors85005752024-10-012024-12-31CompositionOfBoardOfDirectors95005752024-12-31CompositionOfBoardOfDirectors95005752024-10-012024-12-31CompositionOfBoardOfDirectors105005752024-12-31CompositionOfBoardOfDirectors105005752024-10-012024-12-31CompositionOfCommittees145005752024-12-31CompositionOfCommittees145005752024-10-012024-12-31CompositionOfCommittees155005752024-12-31CompositionOfCommittees155005752024-10-012024-12-31CompositionOfCommittees165005752024-12-31CompositionOfCommittees165005752024-10-012024-12-31CompositionOfCommittees415005752024-12-31CompositionOfCommittees415005752024-10-012024-12-31CompositionOfCommittees425005752024-12-31CompositionOfCommittees425005752024-10-012024-12-31CompositionOfCommittees435005752024-12-31CompositionOfCommittees435005752024-10-012024-12-31CompositionOfCommittees685005752024-12-31CompositionOfCommittees685005752024-10-012024-12-31CompositionOfCommittees695005752024-12-31CompositionOfCommittees695005752024-10-012024-12-31CompositionOfCommittees705005752024-12-31CompositionOfCommittees705005752024-10-012024-12-31CompositionOfCommittees955005752024-12-31CompositionOfCommittees955005752024-10-012024-12-31CompositionOfCommittees965005752024-12-31CompositionOfCommittees965005752024-10-012024-12-31CompositionOfCommittees975005752024-12-31CompositionOfCommittees975005752024-10-012024-12-31CompositionOfCommittees1225005752024-12-31CompositionOfCommittees1225005752024-10-012024-12-31CompositionOfCommittees1235005752024-12-31CompositionOfCommittees1235005752024-10-012024-12-31CompositionOfCommittees1245005752024-12-31CompositionOfCommittees1245005752024-10-012024-12-31CompositionOfCommittees1495005752024-10-012024-12-31CompositionOfCommittees1505005752024-10-012024-12-31CompositionOfCommittees1515005752024-10-012024-12-31CompositionOfCommittees1525005752024-10-012024-12-31CompositionOfCommittees1535005752024-10-012024-12-31CompositionOfCommittees1545005752024-10-012024-12-31CompositionOfCommittees1555005752024-10-012024-12-31CompositionOfCommittees1565005752024-12-31MeetingOfBoardOfDirectors15005752024-10-012024-12-31MeetingOfBoardOfDirectors15005752024-12-31MeetingOfBoardOfDirectors25005752024-10-012024-12-31MeetingOfBoardOfDirectors25005752024-12-31MeetingOfBoardOfDirectors35005752024-10-012024-12-31MeetingOfBoardOfDirectors35005752024-12-31MeetingOfBoardOfDirectors45005752024-10-012024-12-31MeetingOfBoardOfDirectors45005752024-10-012024-12-31MeetingOfCommittees15005752024-12-31MeetingOfCommittees15005752024-10-012024-12-31MeetingOfCommittees25005752024-12-31MeetingOfCommittees25005752024-10-012024-12-31MeetingOfCommittees35005752024-12-31MeetingOfCommittees35005752024-10-012024-12-31MeetingOfCommittees45005752024-12-31MeetingOfCommittees45005752024-10-012024-12-31MeetingOfCommittees55005752024-12-31MeetingOfCommittees55005752024-10-012024-12-31MeetingOfCommittees65005752024-12-31MeetingOfCommittees65005752024-10-012024-12-31MeetingOfCommittees75005752024-12-31MeetingOfCommittees75005752024-10-012024-12-31MeetingOfCommittees85005752024-12-31MeetingOfCommittees85005752024-10-012024-12-31MeetingOfCommittees95005752024-12-31MeetingOfCommittees95005752024-10-012024-12-31MeetingOfCommittees105005752024-12-31MeetingOfCommittees105005752024-10-012024-12-31MeetingOfCommittees115005752024-12-31MeetingOfCommittees115005752024-09-305005752024-12-31ImpositionOfFineOrPenaltyDomain15005752024-12-31ImpositionOfFineOrPenaltyDomain25005752024-12-31ImpositionOfFineOrPenaltyDomain35005752024-12-31OngoingTaxLitigationsOrDisputesDomain15005752024-12-31OngoingTaxLitigationsOrDisputesDomain2xbrli:pure500575VOLTASNOTLISTEDINE226A01021VOLTAS LIMITED2024-04-012025-03-31Quarterly2024-12-31EquitytruetruefalseAs there is no reporting under this head for the quarter ended 31st December 2024 , the option 'NO' available in the dropdown has been selected. truetruetrueTop 500 listed entitiestruev00163OriginalThe shareholders of the Company, approved the appointment of Mr. Aditya Sehgal and Mr. Pheroz Naswanjee Pudumjee as Independent Directors for a term of 3 years each commencing from 30th August, 2024 vide resolutions passed by postal Ballot on 21st November, 2024.truefalseMrNoel N. Tata00024713Non-Executive - Non Independent DirectorChairperson1956-11-12falseActiveNA2003-01-272023-06-225021MrPradeep Kumar Bakshi02940277Executive DirectorNot ApplicableCEO-MD1962-04-01falseActiveNA2017-09-012024-07-101010MrMukundan C P Menon09177076Executive DirectorNot Applicable1962-05-25falseActiveNA2023-07-102023-09-211000MrVinayak Deshpande00036827Non-Executive - Non Independent DirectorNot Applicable1957-07-21falseActiveNA2012-02-142024-07-103263MsAnjali Bansal00207746Non-Executive - Independent DirectorNot Applicable1971-02-25falseActiveNA2015-03-092020-03-09117.235550MrArun Kumar Adhikari00591057Non-Executive - Independent DirectorNot Applicable1954-01-20falseActiveNA2017-06-082022-06-0890.234460MrSaurabh Agrawal02144558Non-Executive - Non Independent DirectorNot Applicable1969-08-13falseActiveNA2021-01-212023-06-223020MrJayesh Tulsidas Merchant00555052Non-Executive - Independent DirectorNot Applicable1957-11-27falseActiveNA2024-01-302024-01-3011.023343MrAditya Sehgal09693332Non-Executive - Independent DirectorNot Applicable1971-07-01falseActiveNA2024-08-302024-08-304.022220MrPheroz Naswanjee Pudumjee00019602Non-Executive - Independent DirectorNot Applicable1962-02-23falseActiveNA2024-08-302024-08-304.022131The Company has also constituted Property Committee and Capex Committee, composition of the same is as follows: Property Committee Sr. No. DIN Name of the Members Name of other committee Category 1 Category 2 1 00024713 Noel N. Tata Property Committee Non Executive, Chairperson Non Independent Director 2 00036827 Vinayak Deshpande Property Committee Non Executive, Member Non Independent Director 3 02940277 Pradeep Kumar Bakshi Property Committee Executive Director Member 4 - Jitender Verma Property Committee Member Member Capex Committee Sr. No. DIN Name of the Members Name of other committee Category 1 Category 2 1 00024713 Noel N. Tata Capex Committee Non Executive, Chairperson Non Independent Director 2 00036827 Vinayak Deshpande Capex Committee Non Executive, Member Non Independent Director truetruetruetrueAudit Committee00555052Jayesh Tulsidas MerchantNon-Executive - Independent DirectorChairperson2024-01-30Appointed as a Chairman of Board Audit Committee with effect from 9th August, 2024. Audit Committee00591057Arun Kumar AdhikariNon-Executive - Independent DirectorMember2018-11-06Audit Committee09693332Aditya SehgalNon-Executive - Independent DirectorMember2024-09-01Nomination and remuneration committee00207746Anjali BansalNon-Executive - Independent DirectorChairperson2015-11-06Appointed as a Chairperson of Nomination and Remuneration Committee with effect from 1st September, 2024. Nomination and remuneration committee00024713Noel N. TataNon-Executive - Non Independent DirectorMember2014-04-28Nomination and remuneration committee00019602Pheroz Naswanjee PudumjeeNon-Executive - Independent DirectorMember2024-09-01Stakeholders Relationship Committee00024713Noel N. TataNon-Executive - Non Independent DirectorChairperson2005-10-27Stakeholders Relationship Committee02940277Pradeep Kumar BakshiExecutive DirectorMember2020-10-12Stakeholders Relationship Committee00019602Pheroz Naswanjee PudumjeeNon-Executive - Independent DirectorMember2024-09-01Risk Management Committee00555052Jayesh Tulsidas MerchantNon-Executive - Independent DirectorChairperson2024-01-30Appointed as a Chairman of Risk Management Committee with effect from 9th August, 2024.Risk Management Committee00591057Arun Kumar AdhikariNon-Executive - Independent DirectorMember2018-11-06Risk Management Committee09693332Aditya SehgalNon-Executive - Independent DirectorMember2024-09-01Corporate Social Responsibility Committee00024713Noel N. TataNon-Executive - Non Independent DirectorChairperson2014-09-29Corporate Social Responsibility Committee00207746Anjali BansalNon-Executive - Independent DirectorMember2019-08-12Corporate Social Responsibility Committee02940277Pradeep Kumar BakshiExecutive DirectorMember2018-02-10Other Committee02940277Pradeep Kumar BakshiInvestment CommitteeExecutive DirectorChairpersonOther Committee00207746Anjali BansalInvestment CommitteeNon-Executive - Independent DirectorMemberOther Committee00000000Jitender VermaInvestment CommitteeMemberMemberDIN has been kept as 00000000 as Mr. Jitender Verma, Chief Financial Officer, a member of the Investment Committee, is not a part of Board of DirectorsOther Committee00036827Vinayak DeshpandeProject CommitteeNon-Executive - Non Independent DirectorChairpersonOther Committee02940277Pradeep Kumar BakshiProject CommitteeExecutive DirectorMemberOther Committee00036827Vinayak DeshpandeSafety-Health-Environment CommitteeNon-Executive - Non Independent DirectorChairpersonOther Committee02940277Pradeep Kumar BakshiSafety-Health-Environment CommitteeExecutive DirectorMemberOther Committee09693332Aditya SehgalSafety-Health-Environment CommitteeNon-Executive - Independent DirectorMember2024-08-12true101052024-08-141true101052024-10-2975true10942024-12-1748true10105Audit Committee2024-08-11true3330Audit Committee2024-08-131true3220Audit Committee2024-08-2915true3330Audit Committee2024-10-2253true3330Audit Committee2024-10-285true3330Audit Committee2024-11-2628true3330Risk Management Committee2024-10-04true3330Nomination and remuneration committee2024-08-05true3320Nomination and remuneration committee2024-08-137true3320Corporate Social Responsibility Committee2024-08-140true4420Stakeholders Relationship Committee2024-08-14true3310truetruetruetrueYestruetruetrueRatnesh RukhariyarCompany Secretary and Compliance OfficerfalseRatnesh RukhariyarCompany Secretary and Compliance OfficerMumbai2025-02-132121042Appellate Authority, Commissionerate of CT and GST (Appeal), Odisha (at Cuttack)The Deputy Commissioner of State Tax, Cuttack - I City Circle, Odisha, had levied a demand of Rs.4,41,49,977/- (including interest) with respect to disallowance of Input Tax Credit (ITC) and imposed a penalty of Rs.29,23,999/-, under the provisions of Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017 on 22-02-2024. An appeal against the above Order was filed before the Appellate Authority, Commissionerate of CT and GST(Appeal), Odisha (at Cuttack). Pursuant to order dated 30-10-2024, Company’s appeal was allowed and the entire demand (including penalty) was dropped.2024-10-30Not applicable as the entire demand (including penalty) was dropped.Not applicableAppellate Forum (Central Zone - I) Cuttack Commissionerate of CT and GST, Odhisha (at Cuttack)The Deputy Commissioner of State Tax, Cuttack, Odisha, vide an Order dated 7th March, 2024, levied a demand of Rs. 2,66,13,591 comprising tax of Rs. 1,34,49,397, interest of Rs. 1,18,19,257 and penalty of Rs. 13,44,937, under the provisions of Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017, citing excess Input Tax Credit (ITC) availed by the Company for the financial year 2018-19. An appeal against the above Order was filed before the Appellate Forum, (Central Zone-I) Cuttack Commissionerate of CT and GST, Odisha (at Cuttack). Pursuant to Order passed by the Appellate Forum on 27th December 2024, the Company’s appeal was allowed, and the entire demand (including interest and penalty) has been dropped.2024-12-27Not applicable as the entire demand (including penalty) was dropped.Not applicableState Tax Officer, Cuttack, OdishaThe State Tax Officer, Cuttack, Odisha, vide Order dated 9 th April, 2024, had levied a demand of Rs. 36,62,054 comprising tax of Rs. 16,95,181, interest of Rs. 17,97,355 and penalty of Rs. 1,69,518 under the provisions of Central Goods and Services Tax Act, 2017 and Odisha Goods and Services Tax Act, 2017, citing excess Input Tax Credit (ITC) availed by the Company for the financial year 2018-19. An appeal against the above Order was filed before the Appellate Authority - CT & GST Territorial Range, Cuttack-I, Cuttack. Pursuant to Order passed by the Appellate Authority on 27th December 2024, the Company’s appeal was partly allowed and a demand of Rs. 19,99,936 comprising tax of Rs. 9,12,740, interest of Rs. 9,95,922 and penalty of Rs.91,274 has been dropped. As regards the balance demand of Rs. 16,62,118 comprising tax of Rs. 7,82,441, interest of Rs. 8,01,433 and penalty of Rs.78,244, the Company is evaluating the options available including further legal remedies and will take an appropriate course of action in the matter.2024-12-27A demand of Rs. 19,99,936 comprising tax of Rs. 9,12,740, interest of Rs. 9,95,922 and penalty of Rs.91,274 has been dropped. As regards the balance demand of Rs. 16,62,118 comprising tax of Rs. 7,82,441, interest of Rs. 8,01,433 and penalty of Rs.78,244, the Company is evaluating the options available including further legal remedies and will take an appropriate course of action in the matter.There is no material impact on financials, operations or other activities of the CompanyExcise Department2014-10-14On 14th August, 2023, Voltas had informed the Stock Exchanges that various excise duty matters were pending before High Court, CESTAT and various jurisdictional authorities, in respect of Show Cause Notices for various different financial years between 1981 ·82 and 2014-15 relating to classification, excise duty payment, modvat, input tax credit, etc. (Total Demand of Rs. 19.72 crores and Amount deposited including protest was Rs. 0.88 crore)On 11th October, 2024, Voltas had informed the Stock Exchanges that out of the Excise Duty Matters reported on 14th August, 2023 (Total Demand: Rs. 19.72 crores), one matter which was pending before the Custom, Excise & Service Tax Appellate Tribunal, Ahmedabad (CESTAT) has been decided in favour of the Company by an Order dated 10th October, 2024 and the demand of Rs. 0.73 crores has been dropped.Excise Department2010-03-30On 14th August, 2023, Voltas had informed the Stock Exchanges that various excise duty matters were pending before High Court, CESTAT and various jurisdictional authorities, in respect of Show Cause Notices for various different financial years between 1981 ·82 and 2014-15 relating to classification, excise duty payment, modvat, input tax credit, etc. (Total Demand of Rs. 19.72 crores and Amount deposited including protest was Rs. 0.88 crore)On 6th December, 2024, Voltas had informed the Stock Exchanges that out of the Excise Duty Matters reported on 14th August, 2023 (Total Demand: Rs. 19.72 crores), one matter which was pending before the Custom, Excise & Service Tax Appellate Tribunal, Mumbai (CESTAT) has been decided in favour of the Company by an Order dated 26th November, 2024 and the demand of Rs. 4.13 crores has been dropped.