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Electricals Limited2024-04-012025-03-31Yearly2025-03-31EquitytruetruefalseDuring the quarter ended March 31, 2025, the Company has not acquired, directly or indirectly, shares or voting rights in unlisted subsidiaries in terms of sub-para 1 of para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.truetruetruetrueTop 500 listed entitiestrueb00019OriginaltruefalseMrShekhar Bajaj00089358Executive DirectorChairperson related to Promoter1948-06-08falseActiveNA1984-11-012022-08-125032MrMadhur BajajACJPB6301L00014593Non-Executive - Non Independent DirectorNot Applicable1952-08-19falseActiveNA1994-11-282023-08-102000MrRajivnayan Rahulkumar Bajaj00018262Non-Executive - Non Independent DirectorNot Applicable1966-12-21falseActiveNA2019-05-222023-08-105000MsPooja BajajAENPA7886D08254455Executive DirectorNot Applicable1982-05-06falseActiveNA2018-11-012024-05-141010MrShailesh V Haribhakti00007347Non-Executive - Independent DirectorNot Applicable1956-03-12falseActiveNA2019-08-072024-08-0767.255485MrSudarshan SampathkumarAEAPS3510H01875316Non-Executive - Independent DirectorNot Applicable1962-01-23falseActiveNA2023-05-232023-05-2322.091121MrVikram Taranath Hosangady09757469Non-Executive - Independent DirectorNot Applicable1973-09-03falseActiveNA2023-11-062023-11-0616.256352MsSwati Shivanand SalgaocarANBPS1205P03500612Non-Executive - Independent DirectorNot Applicable1982-05-15falseActiveNA2023-11-062023-11-0616.251110MrSaurabh Kumar06576793Non-Executive - Independent DirectorNot Applicable1967-12-14falseActiveNA2024-03-202024-03-2012.121100truetruetruetruetrueAudit Committee00007347Shailesh V HaribhaktiNon-Executive - Independent DirectorChairperson2019-11-06Audit Committee01875316Sudarshan SampathkumarNon-Executive - Independent DirectorMember2024-04-01Audit Committee09757469Vikram Taranath HosangadyNon-Executive - Independent DirectorMember2024-04-01Nomination and remuneration committee01875316Sudarshan SampathkumarNon-Executive - Independent DirectorChairperson2024-04-01Nomination and remuneration committee00007347Shailesh V HaribhaktiNon-Executive - Independent DirectorMember2021-07-27Nomination and remuneration committee00089358Shekhar BajajExecutive DirectorMember2020-06-19Nomination and remuneration committee09757469Vikram Taranath HosangadyNon-Executive - Independent DirectorMember2024-04-01Stakeholders Relationship Committee01875316Sudarshan SampathkumarNon-Executive - Independent DirectorChairperson2024-04-01Mr. Sudarshan Sampathkumar was appointed as a Chairperson of SRC w.e.f. May 14, 2024.Stakeholders Relationship Committee00089358Shekhar BajajExecutive DirectorMember2019-04-01Stakeholders Relationship Committee08254455Pooja BajajExecutive DirectorMember2019-04-01Ms. Pooja Bajaj ceased to be a Chairperson and was appointed as a Member of SRC w.e.f. May 14, 2024.Risk Management Committee00089358Shekhar BajajExecutive DirectorChairperson2019-04-01Risk Management Committee03500612Swati Shivanand SalgaocarNon-Executive - Independent DirectorMember2024-04-01Risk Management Committee99999999E C PrasadChief Financial OfficerMember2021-08-11Mr. E C Prasad is the Chief Financial Officer of Bajaj Electricals Limited ("Company"), and he is not a member of the board of directors of the Company.Risk Management Committee99999999Rishiraj HaldankarHead of Department- Internal AuditorMember2019-04-01Mr. Rishiraj Haldankar is the Head of Department- Internal Auditor of Bajaj Electricals Limited ("Company"), and he is not a member of the board of directors of the Company.Risk Management Committee01875316Sudarshan SampathkumarNon-Executive - Independent DirectorMember2024-10-01Corporate Social Responsibility Committee08254455Pooja BajajExecutive DirectorChairperson2023-05-23Ms. Pooja Bajaj was appointed as a Chairperson of CSR Committee w.e.f. May 14, 2024.Corporate Social Responsibility Committee00089358Shekhar BajajExecutive DirectorMember2014-04-01Mr. Shekhar Bajaj ceased to be a Chairperson of CSR Committee and was appointed as a member of CSR Committee w.e.f. May 14, 2024.Corporate Social Responsibility Committee01875316Sudarshan SampathkumarNon-Executive - Independent DirectorMember2024-04-01Corporate Social Responsibility Committee06576793Saurabh KumarNon-Executive - Independent DirectorMember2024-04-012024-11-07true9852025-02-0488true9742025-03-1942true9852025-03-288true985Audit Committee2024-11-07true3330Audit Committee2025-02-0488true3330Audit Committee2025-03-1942true3330Nomination and remuneration committee2024-11-07true4430Nomination and remuneration committee2025-02-0488true4430Nomination and remuneration committee2025-03-2851true4430Stakeholders Relationship Committee2024-11-14true3310Stakeholders Relationship Committee2025-02-0481true3310Risk Management Committee2024-08-26true5512Risk Management Committee2025-03-19204true5522Corporate Social Responsibility Committee2025-03-19true4420truetruetruetrueYestruetruetruePrashant DalviCompany Secretary and Compliance OfficerYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCNAYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCNAYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCNAYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYeshttps://www.bajajelectricals.com/pages/investors#shopify-section-template--24181932359980__investor_stock_data_yWAjtCYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesNAYesNANAYesYesYesYesYesYesYesYesYesYesYesYesYesPrashant DalviCompany Secretary and Compliance OfficerNAPrashant DalviCompany Secretary and Compliance OfficerfalsePrashant DalviCompany Secretary and Compliance OfficerMumbai2025-04-2600000Office of the Additional Commissioner, Central GST Sub-Commissionerate, Mohali, ChandigarhPayment of a nominal penalty of Rs.10,000/- due to excess availament of TRAN-1 credit.2023-12-20Alleged inadmissible transitional credit amounting to Rs.5.53 crore during FY 2017-18 in contravention of the provisions of section 140 of the CGST Act and failed to produce the required documents to the proper officer during verification of the said credit by the jurisdictional officer.No impact on the Company’s financial operations or other activities.Office of the State Tax Officer, State Tax Department, Circle-S, JammuTotal demand of Rs. 52,025/- which includes a nominal penalty of Rs.20,000/-.2025-02-18On account of alleged mismatch in the input tax credit (ITC) claimed by the Company, etc.No impact on the Company’s financial operations or other activities.Office of the Commercial Tax Officer, Group-XII, Inspection-I, Chennai-6, Tamil NaduPayment of a nominal penalty of Rs.20,000/-.2025-02-24Due to a shortfall in the liability discharged in Form GSTR-9No impact on the Company’s financial operations or other activities.Office of Assistant Commisioner, Sector 3 (Mobile Squad) ETAH - Uttar PradeshPayment of penalty demand of Rs. 91,414/- to facilitate release of vehicle siezed.2025-03-19Vehicle seizure due to expiration of E-way bill, this default was on part of the Transporter. The penalty amount has been re-imbursed from the Transporter by the Company.No impact on the Company’s financial operations or other activities.GST Appellate Authority, Punjab2023-12-20The Learned Assessing Officer (AO) has disallowed transitional credit claimed in TRAN-1 and TRAN-2 due to insufficient documentary evidence. In its defence, the Company intends to rely on judicial precedents, which firmly establish that "the utilisation of credit based on photocopies of invoices constitutes a procedural lapse and should not serve as grounds for disallowing the credit. Unless there is evidence indicating non-receipt of goods by the appellant, the credit cannot be denied." The Company has filed an appeal with reference AD030324049094G dated March 20, 2024. [Amount involved: Rs.11.06 crore]This is to inform you that the Company is in receipt of Order in favor of the Company and all demand has been dropped by the Appellate Authority. GST Tribunal Authority, Bihar2024-08-21The Company received an assessment order no. ZD100824028520W dated August 21, 2024, wherein the AO disallowed credit notes without considering the relevant backup provided during the hearing for FY 2019-20. The Company has filed an appeal with ARN AD101124004486Q dated November 18, 2024, relying on recent judgments on similar issues. [Amount involved: Rs.13.74 crore]The Company has received an appeal order dated February 18, 2025, wherein the Appellate authority passed order against the Company and directed to make the total demand of Rs. 13.74 crore. The Company is in process of filing appeal with the Tribunal or will opt to file a writ in the High Court.GST Appellate Authority, Madhya Pradesh2024-04-30The Company received an assessment order bearing reference ZD2304240215212 dated April 30, 2024 for FY 2018-19, against the Show Cause Notice (SCN). The AO has disallowed ITC Credit. The Company has filed an appeal with reference AD2307240119059 dated July 27, 2024. [Amount involved: Rs.8.81 crore]No change. Pending with the Appellate Authority.State Appellate Authority, Punjab CST2023-11-20The Learned AO disallowed submitted F-forms, as a few of these forms were issued manually by other states, and some forms were collected after the assessment order. The said forms are in the custody of the Company and will be submitted to the AO upon collection of all statutory forms. The Company intends to opt for the rectification of order route, which can be applied within two years from receipt of the order. [Amount involved: Rs.7.56 crore]The Company had received rectification Order under CST Act, dated November 20, 2024, which was received in physical on March 19, 2025 by the Company. In the said order, Sales tax authority dropped the total demand from Rs. 7.56 crore to Rs. 0.005 crore (which includes interest amounting to Rs. 0.0016 crore).GST Appellate Authority - Punjab2025-02-20The Company received an assessment order no. ZD0302250261251 dated February 20, 2025, wherein the AO disallowed credit notes, alleged short payment of taxes, etc., without considering the relevant backup provided during the hearing for FY 2020-21. The Company is in process of filing an appeal with the Appellate Authority, relying on recent judgments on similar issues. [Amount involved: Rs.14.08 crore]Pending with Appellate AuthorityGST Appellate Authority - Uttar Pradesh2025-02-27The Company received an assessment order no. ZD090225372855Z dated February 27, 2025, wherein the AO disallowed GST Input tax credit, without considering the relevant backup provided during the hearing for FY 2020-21. The Company is in process of filing an appeal with the Appellate Authority, relying on recent judgments on similar issues. [Amount involved: Rs.10.95 crore]Pending with Appellate Authority00000000Nil00Nil00Nil00Nil00Nil00Nil00Nil00Nil00All 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.trueE C PrasadCFOMumbai2025-04-26