5448642026-11-025448642026-11-02in-capmkt:StageOfTheLitigationIsConcludedOrDisputeIsResolvedMember5448642026-11-02in-capmkt:DevelopmentInRelationToProceedingsMemberTECHNOCRAFTECHNOCRAFT VENTURES LIMITED544864NOTLISTEDINE1D0W01018Pendency of any litigation(s) or dispute(s) (Sub-para 8-Para B)Regularly till the litigation is concluded or dispute is resolvedNewfalse2026-11-0215:02:002026-11-02Development in relation to proceedingsTechnocraft Ventures Limited - "The Company" or (“Appellant”) has filed an appeal before the appropriate appellate authority against the Order-in-Original dated December 10, 2025 passed by the Assistant Commissioner, CGST Division-VI, Ghaziabad, pursuant to a Show Cause Notice dated June 30, 2025 issued on the basis of a DGARM report dated July 18, 2022, alleging mismatches in Input Tax Credit (ITC) claimed in GSTR-3B vis-à-vis GSTR-2A and discrepancies in GSTR-9 for the financial years 2018-19 to 2020-21. The order confirmed a tax demand of ₹1,71,87,505/- (CGST, SGST and IGST) along with an equivalent penalty under Section 74 of the CGST Act, 2017, aggregating to a total demand of approximately ₹3,43,75,010. The Appellant contends that the invocation of Section 74 is erroneous in the absence of any allegation or evidence of fraud, wilful misstatement or suppression of facts, and that the proceedings are time-barred and in violation of principles of natural justice, including denial of a proper opportunity of hearing.2026-11-02The Company had disclosed the aforesaid GST proceedings in its Prospectus dated August 12, 2026, under the section relating to outstanding litigation and legal proceedings. The present disclosure is being made to intimate the Stock Exchanges about the subsequent development in the matter, pursuant to which the Appellate Authority has allowed the appeal filed by the Company. The Company had filed an appeal dated March 9, 2026, against Order-in-Original No. 17/CGST/Div-VI/2025-26 dated December 10, 2025, passed by the Assistant Commissioner, CGST, Division-VI, Ghaziabad, confirming a tax demand of ₹1,71,87,505/- along with an equivalent penalty and applicable interest. The Additional Commissioner, CGST (Appeals), Meerut, vide Order-in-Appeal No. GZB/CGST/000/APPL-MRT/GZB/932/2026-27 dated October 19, 2026, has allowed the appeal filed by the Company. The Appellate Authority held that the Department had failed to establish fraud, wilful misstatement or suppression of facts with intent to evade tax, as required under Section 74 of the CGST Act, 2017. It further held that the proceedings were barred by limitation under Section 73 of the CGST Act, 2017. Accordingly, the Company's appeal has been allowed, providing relief against the aforesaid tax demand, equivalent penalty and consequential interest. The copy of the Order-in-Appeal was uploaded on the GST portal on November 2, 2026. The Order-in-Appeal is favourable to the Company, as the appeal filed by the Company has been allowed by the Appellate Authority. Accordingly, the Company has obtained relief in respect of the tax demand of ₹1,71,87,505/- and equivalent penalty of ₹1,71,87,505/- along with applicable interest, confirmed by the Adjudicating Authority. The Company had deposited ₹17,18,753/- as mandatory pre-deposit under Section 107(6) of the CGST Act, 2017, at the time of filing the appeal.CompanyThe details of the aforesaid GST proceedings were disclosed in the Company's Prospectus dated August 12, 2026, under the section relating to outstanding litigation and legal proceedings. The present disclosure is being made to intimate the Stock Exchanges about the subsequent development in the matter, pursuant to which the Appellate Authority has allowed the appeal filed by the Company.