ACME Solar Holdings Ltd

The Committees which are mandatory under the SEBI Listing Regulations and Companies Act, 2013, have only been considered for reporting under this Section.

Hemant Sahai was appointed as member of the Audit Committee on May 30, 2025. He was designated as Chairperson of the Audit Committee on March 23, 2026

Atul Sabharwal was appointed as Chairperson of the Audit Committee on June 26, 2024. He was designated as member of the Audit Committee on March 23, 2026

Hemant Sahai was appointed as member of the Risk Management Committee on May 30, 2025. He was designated as the Chairman of the Risk Management Committee in place of Nikhil Dhingra, with effect from March 23, 2026

Nikhil Dhingra was appointed as Chairman of the Risk Management Committee on June 26, 2024. He has been designated as member of the Risk Management Committee w.e.f. March 23, 2026

ACME Solar Energy Private Limited, WOS of ASHL (“Appellant”) filed an appeal dated January 25, 2019 before Commissioner of Income Tax (Appeals) against Assistant Commissioner of Income Tax, Circle-1 (1) Gurgaon (“Respondent”) against order under section 143(3) of the Income Tax ACT, 1961, dated December 25, 2018 passed by Assistant Commissioner of Income Tax, Circle -1(1) for the assessment year 2016-17. Submission made on 24/07/2025, next date of hearing awaited.

Union of India (Ministry of Finance), Director General of Trade Remedies, Union of India (Ministry of Commerce & Industry) and Union of India (Ministry of Non and Renewable Energy) (“Petitioners”) filed a special leave petition under Article 136 of the Constitution of India before the Supreme Court of India, against our Company, Solar Energy Corporation of India (“SECI Limited”), Central Electricity Regulatory Commission, NTPC Vidyut Vyapar Nigam Limited, Grid Corporation of Odisha Limited, Orissa Discom, Central Electricity Supply Utility of Odisha Limited, North Eastern Electricity Supply Company of Odisha Limited, Western Electricity Supply Company of Odisha Limited, Southern Electricity Supply Company of Odisha Limited and Maharashtra State Electricity Distribution Company Limited (collectively, the “Respondents”) challenging the interim order dated July 23, 2018 (“Interim Order”) passed by the High Court of Orissa at Cuttack (“High Court”). An application dated Nov 28, 2017 was filed on December 15, 2017 by the Indian Solar Manufacturers Association before the Director General under rule 5 of Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997 seeking an imposition of ‘Safeguard Duty’ on imports of the ‘solar cells’ to project the domestic industry. Pursuant to such application, a detailed investigation was conducted by the Director General and it was recommended to impose ‘Safeguard Duty’ on imports of the ‘solar cells’ in terms of rule 12 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997. The High Court pursuant to its Interim Order had restrained the Petitioners from issuing any notification under rule 12 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, pursuant to the final findings of Directorate General of Safeguards pursuant to notification dated July16, 2018. The matter was last listed on 11.08.2025 and the Next date of hearing was 04.11.2025 and no further hearing date was intimated.

Our Company (“Petitioner”) filed a petition on July 20, 2018 under Article 226 of the Constitution of India before the High Court of Orissa, Cuttack, against the Director General of Trade Remedies, Union of India (Ministry of Commerce & Industry), Union of India (Ministry of Finance), Union of India (Ministry of Non and Renewable Energy), SECI Limited, Central Electricity Regulatory Commission, NTPC Vidyut Vyapar Nigam Limited, Grid Corporation of Odisha Limited, Orissa Discom, Central Electricity Supply Utility of Odisha Limited, North Eastern Electricity Supply Company of Odisha Limited, Western Electricity Supply Company of Odisha Limited and Maharashtra State Electricity Distribution Company Limited (“Respondents”) seeking appropriate writ or directions to quash the final findings under Rule 11 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997, pursuant to a public notice no. F/22//1/2018- Directorate General of Trade Remedies dated July 16, 2018, issued by the Director General of Trade Remedies (“Respondent 1”) pursuant to which, it imposed safeguard duty at 25% ad valorem on the import of solar cells whether or not assembled in modules or panels into India from China PR and Malaysia. The matter is currently pending. Interim order was stayed by the SC. The matter was last listed on 19.09.2018 and has not been listed since then.

Jupiter Solar Power Limited (“Petitioner”) filed a petition under Article 136 of the Constitution of India before the Supreme Court of India against our Company, Director General of Trade Remedies, Union of India (Ministry of Commerce & Industry), Union of India (Ministry of Finance), Union of India (Ministry of Non and Renewable Energy), SECI Limited, Central Electricity Regulatory Commission, NTPC Vidyut Vyapar Nigam Limited, Grid Corporation of Odisha Limited, Orissa Discom, Central Electricity Supply Utility of Odisha Limited, North Eastern Electricity Supply Company of Odisha Limited, Western Electricity Supply Company of Odisha Limited, Southern Electricity Supply Company of Odisha Limited, Maharashtra State Electricity Distribution Company Limited, Indosolar Limited, Hero Solar Energy Private Limited and Vikram Solar Limited (collectively, the “Respondents”) against the interim order dated July 23, 2018 passed by the High Court of Orissa at Cuttack (“HC”) wherein the HC has granted an ex-parte stay by way of a non-speaking order restraining the Union Of India, viz, Director General of Trade Remedies (“Respondent 2”), Union of India (Ministry of Commerce & Industry) (“Respondent 3”), Union of India (Ministry of Finance) (“Respondent 4”), Union of India (Ministry of Non and Renewable Energy) (“Respondent 5”) from issuing notification levying safeguard duty on imports of solar cell under Section 8 B (1) of the Customs Tariff Act, 1975 read with Rule 12 of the Customs Tariff (identification and Assessment of Safeguard Duty) Rules, 1977, whether or not arranged in modules or panels. The matter is currently pending. The last date of hearing was 14 Aug 2025 and no further hearing date was intimated.

Our Company (“Petitioner”) filed a petition dated April 12, 2019, under Article 226 of the Constitution of India before the High Court of Judicature at Bombay, Nagpur Bench, against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management, Jupiter Solar Power Limited and IndoSolar Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by the Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018, and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending. Pleadings are yet to complete. Ad-interim stay granted vide order dated April 16, 2019. The matter is still pending and the last date of hearing was May 06, 2025 and no further hearing date was intimated.

Our Company filed a petition on August 22, 2019, before Andhra Pradesh High Court, wherein our Company has challenged final finding of DGTR dated July 16, 2018, and the safeguard notification July 30, 2018, issued by the Central Government under section 8 (B) of the Customs Tariff Act and determining the safeguard duty @ of 25% ad valorem on the imported solar cells and modules. The matter is currently pending. The matter was last listed on 27.08.2019 and no further hearing date was intimated.

The matter has been disposed of, with the final order passed on November 13, 2025, whereby the Rajasthan Electricity Regulatory Commission (RERC) allowed Change in Law compensation of approximately Rs. 39.92 crores, comprising Rs. 30.98 crores towards Basic Customs Duty (BCD) and Rs. 8.94 crores towards Goods and Services Tax (GST), representing the reconciled and undisputed amounts between the parties. RERC has also allowed carrying cost from the date of incurrence up to the date of the order amounting to approximately Rs. 7.50 crores. Consequently, the total amount allowed to the Company is approximately Rs. 47.40 crores. The Company received the first annuity payment of Rs. 37,49,063 from SECI on January 12, 2026.

ACME Raipur Solar Power Private Limited, WOS of ASHL (“Appellant”) filed an appeal dated January 25, 2019 before Commissioner of Income Tax (Appeals) against Assistant Commissioner of Income Tax , Circle-1 (1) Gurgaon (“Respondent”) against order under section 143(3) dated December 23, 2018 passed by Assistant Commissioner of Income Tax for the assessment year 2016-17. Submission made on November 21, 2024, next date of hearing is awaited.

Company had received a show cause cum demand notice dated March 23, 2026 (received on March 28, 2026) from the Directorate General of Goods and Services Tax Intelligence, Jaipur Zonal Unit, alleging short payment of GST aggregating to approximately Rs. 149.73 crore (along with applicable interest and penalty) for the period April 2021 to March 2025. Subsequently, on April 13, 2026, the Company filed a civil writ petition before the Hon’ble High Court of Rajasthan challenging the said notice. Further, the Hon’ble High Court of Rajasthan, vide its order dated April 20, 2026, has granted an interim stay on the operation and effect of the said show cause cum demand notice until further orders.

The officials of DGGI, Jaipur are conducting an inquiry in connection with certain alleged inadmissible ITC. The search was initiated on November 13, 2024 and concluded on November 14, 2024.

Our Company, Solar Power Developers Association and Avaada Clean Energy Private Limited (“Petitioners”) filed a petition dated May 02, 2019 under Article 226 of the Constitution of India before the High Court of Judicature at Delhi against the Union of India (Ministry of Finance), GST Council and Central Board of Indirect Taxes and Customs (“Respondents”) challenging the validity of (i) explanation to serial no. 234 of notification no. 1/2017 – Central Tax (Rate) dated June 28, 2017 inserted pursuant to notification no. 24/2018 Central Tax (Rate) dated December 31, 2018, and (ii) explanation to serial no. 38 of notification no. 11/2017 inserted pursuant to notification no. 11/2017 – Central Tax (Rate) dated June 28, 2017, and inserted pursuant to notification no. 27/2018 – Central Tax (Rate) dated December 31, 2018 (“Impugned Notifications”), alleging that such Impugned Notifications were illegal and violative of Article 14, 19(1)(g), 246 and 265 of the Constitution of India and Section 15 of the Central Goods and Services Tax, Act, 2017. The Impugned Notifications under solar power generating system contract, the value of good is deemed to be 70% and taxable at 5% while the value of services is deemed to be 30% and taxed at 18%. The said breakup of 70:30 significantly differed from the actual split of 93:7. The matter is currently pending. Matter heard on November 20, 2024, December 13, 2024, March 03, 2025, May 08, 2025 and November 17, 2025 where it got adjourned to February, 02, 2026.

Writ petition has been filed on 20.07.2024, Matter heard on 23.07.2024 and 11.09.2024. On 11.09.2024 counsel for respondent sought time to file the Counter. Bench has granted last opportunity to the Respondents to file the reply and directed to list the matter on 20.01.2025. Matter adjourned to 21.02.2025, however matter could not be taken up. matter listed for hearing on 08.04.2025 but did not reach for hearing, Hearing scheduled for 19.05.2025, adjourned to 16.07.2025, adjourned to 28.10.2025 and again adjourned to 08.01.2026. Latest date of hearing was 21.04.2026.

The Order dated April 22, 2026, whereby the entire demand has been dropped (100% in favour of the Company), has been received by the Company on April 22, 2026.

ACME Jodhpur (subsidiary Company) received a show cause notice dated from Joint Commissioner, State Tax, Jodhpur – I, Rajasthan and reply has been submitted. However, department has issued DRC-01A under section 74 demanding Rs. 65 million of tax, Rs. 35.1 million of interest and Rs. 9.76 million of penalty on August 07, 2024. Reply for DRC-01A was submitted on August 12, 2024. Show Cause Notice u/s 74 was issued on 29-09-2025. Company submitted reply on 24.10.2025.

Our Company (“Petitioner”) filed a petition on August 17, 2019, under Article 226 of the Constitution of India before the High Court of Judicature for Rajasthan at Jodhpur against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management and Jupiter Solar Power Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018 and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25/20/15% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending and at the stage of final arguments. The last date of hearing was 14.11.2024 and no further hearing date was intimated.

Our Company (“Petitioner”) filed a petition on September 11, 2019, under Article 226 of the Constitution of India before the High Court of Judicature for Rajasthan at Jodhpur against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management and M/s Jupiter Solar Power Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018 and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25/20/15% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending and at the stage of final arguments. The last date of hearing was October 21, 2024 and no further hearing date was intimated.

Our Company (“Petitioner”) filed a petition on July 4, 2019 under Article 226 of the Constitution of India before the High Court of Judicature at Bombay against the Union of India, Director General of Trade Remedies, Deputy Commissioner of Custom, Commissioner of Custom, Directorate General of Systems and Data Management, Jupiter Solar Power Limited and IndoSolar Limited (“Respondents”) challenging the final findings, F. No. 22/1/2018 – Directorate General of Trade Remedies dated July 16, 2018, issued by Director General of Trade Remedies (“Respondent 2”) and legality of notification No. 01/2018 – Customs (SG) dated July 30, 2018, and instruction no. 14/2018 – Customs dated September 30, 2018, issued by Union of India (“Respondent 1”), respectively, along with the legality of bill of entries generated by the electronic data interchange system seeking to recover safeguard duty at the rate of 25% on the solar photovoltaic modules sought to be imported by the Petitioner. The matter is currently pending. Matter is at the stage of final arguments. The last date of hearing was 12.04.2024. The matter was listed on 19.01.2026 and the next date of hearing was 02.02.2026 for arguments.