BGR Energy Systems Ltd

Integrated Filing — Corporate Governance (NSE XBRL)

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Filing Summary

Company
BGR Energy Systems Limited
Symbol
BGRENERGY
Quarter Ended
31-Mar-2026
Submission
New

General Disclosures

Advertisements As Per Regulation471
Yes
Annual Return As Provided Under Section92Of The Companies Act2013
Yes
Approval For Material Related Party Transactions
Not Applicable
Approval Of The Board And Shareholders For Compensation Or Profit Sharing
Yes
Audio Or Video Recordings And Transcripts Of Post Earinings Or Quarterly Calls
Not Applicable
Board Composition
Yes
Code Of Conduct
Yes
Compliance Certificate
Yes
Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation
Yes
Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46
Yes
Credit Rating Or Revision In Credit Rating Obtained
Yes
Date Of End Of Financial Year
31-Mar-2026
Date Of End Of Reporting Period
31-Mar-2026
Date Of Signing
30-Apr-2026
Date Of Start Of Financial Year
01-Apr-2025
Designation Of Person
Company Secretary and Compliance Officer
Designation Of Person Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Annual Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Quartely Affirmations
Company Secretary and Compliance Officer
Details Of Agreements Entered Into With The Media Companies And Or Their Associates
Not Applicable
Details Of Business
Yes
Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy
Yes
Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30
Yes
Disclosure Of Related Party Transactions On Consolidated Basis
Yes
Disclosure Web Link Of Annual Return As Provided Under Section92Of The Companies Act2013Is Placed
https://www.bgrcorp.com/sebi_lodr_regulations.php
Disclosure Web Link Of Company At Advertisements As Per Regulation471Is Placed
https://www.bgrcorp.com/shareholders_advertisement_sebi.php
Disclosure Web Link Of Company At Materiality Policy As Per Sub Regulation4Regulation30Is Placed
https://www.bgrcorp.com/policy/Determination_of_Materiality_of_events.pdf
Disclosure Web Link Of Company At Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity Is Placed
https://www.bgrcorp.com/subsidiary_financial_sebi.php
Disclosure Web Link Of Company At Which Credit Rating Or Revision In Credit Rating Obtained Is Placed
https://www.bgrcorp.com/credit_rating_sebi.php
Disclosure Web Link Of Company At Which Details Of Business Is Placed
https://www.bgrcorp.com/details_of_business.php
Disclosure Web Link Of Company At Which Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy Is Placed
https://www.bgrcorp.com/policy/Whistle-Blower-Policy-Amended-2020.pdf
Disclosure Web Link Of Company At Which Financial Results Is Placed
https://www.bgrcorp.com/financial_results_sebi.php
Disclosure Web Link Of Company At Which Policy For Determining Material Subsidiaries Is Placed
https://www.bgrcorp.com/policy/material_subsidiary_policy1.pdf
Disclosure Web Link Of Company At Which Policy On Dealing With Related Party Transactions Is Placed
https://www.bgrcorp.com/policy/policy-on-related-party-transactions-and-its-materiality1.pdf
Disclosure Web Link Of Company At Which Shareholding Pattern Is Placed
https://www.bgrcorp.com/share_ownership.php
Disclosure Web Link Of Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation Is Placed
https://www.bgrcorp.com/sebi_lodr_regulations.php
Disclosure Web Link Of Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46Is Placed
https://www.bgrcorp.com/sebi_lodr_regulations.php
Disclosure Web Link Of Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30Is Placed
https://www.bgrcorp.com/lodr_contact_details.php
Disclosure Web Link Of Disclosures Under Sub Regulation8Of Regulation30Is Placed
https://www.bgrcorp.com/corporateannouncements.php
Disclosure Web Link Of Memorandum Of Association And Articles Of Association Is Placed
https://www.bgrcorp.com/moa-aoa.php
Disclosure Web Link Of Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet Is Placed
https://www.bgrcorp.com/sebi_lodr_regulations.php
Disclosure Web Link Of Secretarial Compliance Report Is Placed
https://www.bgrcorp.com/secretarial_compliance_report.php
Disclosures Under Sub Regulation8Of Regulation30
Yes
Dividend Distribution Policy As Per Regulation43A1
Not Applicable
Employee Benefit Scheme Documents Framed In Terms Of SEBI Share Based Employee Benefits And Sweat Equity Regulations2021
Not Applicable
Fees Or Compensation
Yes
Financial Results
Yes
Is SCORESID Available
Yes
ISIN
INE661I01014
Market Capitalisation As Per Immediate Previous Financial Year
Top 2000 listed entities
Materiality Policy As Per Sub Regulation4Regulation30
Yes
Memorandum Of Association And Articles Of Association
Yes
Minimum Information
Yes
MSEI Symbol
NOTLISTED
Name Of Signatory
S.SUNDAR
Name Of Signatory Affirmations
S.SUNDAR
Name Of Signatory For Annual Affirmations
S.SUNDAR
Name Of Signatory For Quartely Affirmations
S.SUNDAR
Name Of The Company
BGR ENERGY SYSTEMS LIMITED
New Name And The Old Name Of The Listed Entity
Not Applicable
Other Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity
Yes
Place
Chennai
Plans For Orderly Succession For Appointments
Yes
Policy For Determining Material Subsidiaries
Yes
Policy For Related Party Transaction
Yes
Policy On Dealing With Related Party Transactions
Yes
Reason For Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity
Not applicable during the quarter ended March 31, 2026
Recommendation Of Board
Yes
Reporting Quarter
Yearly
Review Of Compliance Reports
Yes
Risk Assessment And Management
Yes
Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet
Yes
SCORES Registration ID
b00108
Scrip Code
532930
Secretarial Compliance Report
Yes
Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity
Yes
Shareholding Pattern
Yes
Statements Of Deviations Or Variations As Specified In Regulation32
Not Applicable
Symbol
BGRENERGY
The Listed Entity Has Approved Material Subsidiary Policy And The Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity Have Been Complied
Yes
Type Of Company
Equity
Type Of Submission
Original
Vacancies In Respect Key Managerial Personnel
Not Applicable
Vigil Mechanism
Yes
Whether As Per Sub Regulation2ba Of Regulation27Of SEBILODR There Has Been Cyber Security Incidents During The Quarter
No
Whether Part A Of Annexure I Of The SEBI Circular Dated31December2024Related To Compliance Report On Corporate Governance Is Applicable To The Entity
Yes
Whether Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Applicable To The Entity
No

Additional Disclosures

Entry D_MeetingBOD1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit3
Whether Requirement Of Quorum Met
Yes
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Board Composition — Entity Disclosures

The Composition Of Board Of Directors Is In Terms Of Sebi Regulations2015
Yes
Chairperson Related to MD / CEO
Yes
Regular Chairperson
Yes

Composition of Board of Directors

SrTitleDirectorPANDINCategory 1Category 2Category 3Date of BirthDisqualifiedSpecial ResolutionSpecial Resolution DateInitial AppointmentRe-appointmentTenure (months)Listed DirectorshipsIndependent DirectorshipsAudit / Stakeholder MembershipsAudit / Stakeholder Chair Posts
1MrsSASIKALA RAGHUPATHY******00490686Non-Executive - Non Independent DirectorChairperson related to Promoter14-May-1956NoNot Applicable20-Aug-198509-Aug-20241000
2MrARJUN GOVIND RAGHUPATHY******02700864Executive DirectorNot ApplicableMD26-Dec-1989NoNot Applicable11-Nov-201611-Nov-20211020
3MrGANESAN JEYAKRISHNA******03208035Executive DirectorNot Applicable08-Jun-1965NoNot Applicable14-May-202414-May-20241010
4MrKRISHNAMOORTHI MEYYANATHAN******07845698Non-Executive - Independent DirectorNot Applicable15-Jan-1952NoYes11-May-202514-May-202414-May-202522.172244
5MrSURILISUBBU VASUDEVAN******10388399Non-Executive - Independent DirectorNot Applicable31-May-1956NoNot Applicable14-May-202414-May-202522.172221
6MsNARMADHA DINAKARAN******01777888Non-Executive - Independent DirectorNot Applicable26-Oct-1984NoNot Applicable29-Mar-202529-Mar-202502-Dec-20261110

Committee Disclosures

Entry CompComit14
Date of Appointment
14-May-2024
Entry CompComit15
Date of Appointment
14-May-2024
Entry CompComit16
Date of Appointment
14-Nov-2022
Entry CompComit17
Date of Appointment
29-Mar-2025
Entry CompComit41
Date of Appointment
14-May-2024
Entry CompComit42
Date of Appointment
14-May-2024
Entry CompComit43
Date of Appointment
13-Nov-2013
Entry CompComit68
Date of Appointment
14-May-2024
Entry CompComit69
Date of Appointment
14-May-2024
Entry CompComit70
Date of Appointment
14-Nov-2022
Entry MainD
Composition And Role Of Risk Management Committee
Not Applicable
Composition Of Audit Committee
Yes
Composition Of Nomination And Remuneration Committee
Yes
Composition Of Stakeholder Relationship Committee
Yes
Composition Of Various Committees Of Board Of Directors
Yes
Disclosure Web Link Of Company At Which Composition Of Various Committees Of Board Of Directors Is Placed
https://www.bgrcorp.com/corporate_governance.php
Memberships In Committees
Yes
Prior Or Omnibus Approval Of Audit Committee For All Related Party Transactions
Yes
Risk Management Committee
No
Role Of Audit Committee And Information To Be Reviewed By The Audit Committee
Yes
Role Of Nomination And Remuneration Committee
Yes
Role Of Stakeholders Relationship Committee
Yes
The Committee Members Have Been Made Aware Of Their Powers Role And Responsibilities As Specified In Sebi Regulations2015
Yes
The Composition Of Audit Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Nomination And Remuneration Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Risk Management Committee Is In Terms Of Sebi Regulations2015
Not Applicable
The Composition Of The Stakeholders Relationship Committee Committee Is In Terms Of Sebi Regulations2015
Yes
Whether The Audit Committee Has A Regular Chairperson
Yes
Whether The Nomination And Remuneration Committee Has A Regular Chairperson
Yes
Whether The Stakeholders Relationship Committee Has A Regular Chairperson
Yes

Audit Committee

Additional Position
Chairperson
Director DIN
07845698
Member Name
KRISHNAMOORTHI MEYYANATHAN
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
10388399
Member Name
SURILISUBBU VASUDEVAN
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
02700864
Member Name
ARJUN GOVIND RAGHUPATHY
Position
Executive Director

Audit Committee

Additional Position
Member
Director DIN
01777888
Member Name
NARMADHA DINAKARAN
Position
Non-Executive - Independent Director

Audit Committee

Audit Committee

Nomination and remuneration committee

Additional Position
Chairperson
Director DIN
07845698
Member Name
KRISHNAMOORTHI MEYYANATHAN
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
10388399
Member Name
SURILISUBBU VASUDEVAN
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
00490686
Member Name
SASIKALA RAGHUPATHY
Position
Non-Executive - Non Independent Director

Other Committee

Name Of Other Committee
Independent Director Meeting

Stakeholders Relationship Committee

Additional Position
Chairperson
Director DIN
07845698
Member Name
KRISHNAMOORTHI MEYYANATHAN
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
03208035
Member Name
GANESAN JEYAKRISHNA
Position
Executive Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
02700864
Member Name
ARJUN GOVIND RAGHUPATHY
Position
Executive Director
Entry MainD
Gap Between The Meetings Of The Risk Management Committee
Not Applicable
Meeting Of Audit Committee
Yes
Meeting Of Board Of Directors
Yes
Meeting Of Independent Directors
Yes
Meeting Of Nomination And Remuneration Committee
Yes
Meeting Of Risk Management Committee
Not Applicable
Meeting Of Stakeholders Relationship Committee
Yes
Quorum Of Board Meeting
Yes
Quorum Of Nomination And Remuneration Committee Meeting
Yes
Quorum Of Risk Management Committeemeeting
Not Applicable
The Meetings Of The Board Of Directors And The Above Committees Have Been Conducted In The Manner As Specified In Sebi Regulations2015
Yes
Entry MeetingBOD1
Dates Of Meeting In The Previous Quarter
14-Nov-2025
Number Of Directors Present In Meeting Of Board Of Directors
6
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
6
Entry MeetingBOD2
Dates Of Meeting If Any In The Relevant Quarter
13-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
90
Number Of Directors Present In Meeting Of Board Of Directors
5
Number Of Independent Directors Attending The Meeting
3
Total Number Of Directors As On Date Of The Meeting
6
Entry MeetingComit1
Dates Of Meeting Of The Committee In The Previous Quarter
14-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit2
Dates Of Meeting Of The Committee In The Relevant Quarter
13-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
90
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
4
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
4
Entry MeetingComit3
Dates Of Meeting Of The Committee In The Relevant Quarter
13-Feb-2026
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MainD
Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances
Yes
Disclosure Web Link Of Company At Which Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances Is Placed
https://www.bgrcorp.com/general_information.php
Disclosure Web Link Of Company At Which Email Address For Grievance Redressal And Other Relevant Details Is Placed
https://www.bgrcorp.com/general_information.php
Email Address For Grievance Redressal And Other Relevant Details
Yes
No Of Investor Complaints Disposed Off During The Period
0
No Of Investor Complaints During The Period
0
No Of Investor Complaints Received During The Period
0
Whether Part B Of Annexure I Of The SEBI Circular Dated31December2024Related To Investor Grievance Redressal Report Is Applicable To The Entity
Yes
Entry MainI
No Of Investor Complaints
0
Entry PY_I
No Of Investor Complaints
0
Composition Of Board Of Directors Of Unlisted Material Subsidiary
Yes
Reason For Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Not Applicable To The Entity
Not applicable during the quarter ended March 31, 2026
Whether Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Applicable To The Entity
No
Entry I_OngoingTaxLitigationsOrDisputes1
Current Status
We have submitted documents for issuance of rectification order. The rectification order will be issued within two weeks.
Date of Initiation
04-Feb-2026
Opposing Party
Assistant Commissioner (State Tax), Ponneri Assessment Circle
Status (Previous Disclosure)
Pursuant to the remand directions of the Hon’ble Madras High Court, the Assistant Commissioner (ST) has passed a fresh adjudication order for FY 2018–19 under the TNGST Act, 2017, whereby the original demand has been substantially reduced from ₹210.14 crores to ₹107.90 crores, with the balance demands being partly confirmed and partly dropped. No material financial impact on the Company at this stage, the Company is going to appeal against the said order.
Entry I_OngoingTaxLitigationsOrDisputes2
Current Status
They have issued a termination notice, and we have submitted our response.
Date of Initiation
03-Feb-2026
Opposing Party
Tamil Nadu Transmission Corporation Limited
Status (Previous Disclosure)
The contract has been terminated on the grounds of alleged delays and non-completion of the project within the stipulated timelines, as mentioned by TANTRANSCO. TANTRANSCO has further indicated recovery of liquidated damages, cost of materials not consumed and recovery of differential cost for execution of balance works through alternative agencies, in accordance with the terms of the contract. The Company is in the process of examining the termination order and its legal options, including remedies available under the contract and applicable law. The Company will take appropriate steps to protect its interests. There is no material impact on the operations or other activities of the Company.
Entry I_OngoingTaxLitigationsOrDisputes3
Current Status
We have paid Rs. 29.10 Crs under RVT Amnesty Scheme and we are waiting for the final order from VAT Authorities.
Date of Initiation
18-Feb-2026
Opposing Party
Office of the Commercial Taxes Officer (CTO), Kota – B Circle, Rajasthan.
Status (Previous Disclosure)
Rajasthan VAT issued orders for 2009-10, 2010-11, 2011-12, demanding Rs.634 Cr for delayed deposit of GST amount. Against which the company filed for an Amnesty Scheme and got relief Rs. 606.43 Cr. By remitting Rs.29.1 Cr.Rajasthan Vat authorities also adjusted Rs. 95.65Cr. lying as the VAT credit in our Books. No adverse impact on the Company’s ongoing operations or business activities.
Entry I_OngoingTaxLitigationsOrDisputes4
Current Status
We have filed our appeal on 31.03.2026 before Commissioner of Central Tax (Appeals).
Date of Initiation
31-Dec-2026
Opposing Party
Office of the Joint Commissioner of GST, Guntur-Visakhapatnam-Amaravathi Commissionerate, CBIC, Andhra Pradesh
Status (Previous Disclosure)
Order-in-Original dated 31st December 2025 has been passed under Sections 74 and 122 of the CGST Act, 2017, confirming a GST demand aggregating to approximately Rs. 32.11 crore for the period April 2018 to March 2021. The Company is in the process of filing an appeal against the said order before the appropriate appellate authority.
Entry I_OngoingTaxLitigationsOrDisputes5
Current Status
We are in the process of filing appeal before Appellate Authority.
Date of Initiation
30-Dec-2025
Opposing Party
Assistant Commissioner of State Tax, Unit-69, Vyara, Gujarat
Status (Previous Disclosure)
The Assistant Commissioner of State Tax, Unit-69 (Vyara), Government of Gujarat, has passed a demand order dated 29th December 2025 under Section 74 of the CGST/GGST Act, 2017, alleging under-reporting of taxable turnover due to differences between turnover reported in GSTR-3B and GST-TDS turnover reflected in GSTR-7 for FY 2018-19, FY 2022-23 and FY 2023-24. The order confirms a demand aggregating to approximately Rs. 4.46 crore (including tax, interest and penalty). The Company has received the order on 30th December 2025 and is in the process of filing an appeal before the appropriate appellate authority. The matter is currently sub judice and there is no major impact on the operations of the Company.
Entry I_OngoingTaxLitigationsOrDisputes6
Current Status
We are in the process of filing appeal before Appellate Authority.
Date of Initiation
30-Dec-2025
Opposing Party
Office of the Joint Commissioner, Corporate Circle, Kanpur I, Uttar Pradesh
Status (Previous Disclosure)
A Demand Order dated 30th December 2025 has been passed under Section 73 of the CGST Act, 2017 by the Joint Commissioner, Corporate Circle, Kanpur I, confirming a GST demand for FY 2021-22 pursuant to the Show Cause Notice dated 30th September 2025. The total demand confirmed aggregates to Rs. 32,72,131.80 (including tax, interest and penalty). The Company has received the order on 30th December 2025 and is planning to file an appeal before the appropriate appellate authority.
Entry I_OngoingTaxLitigationsOrDisputes7
Current Status
The Commissioner (Appeals) accepted our reply and set aside for 2017-18, 2018-19 and confirmed partial amount of Rs. 28.94 Lakhs for 2019-20. We are in the process of filing our appeal before GSTAT.
Date of Initiation
29-Dec-2025
Opposing Party
Commissioner (Appeals), Central Goods & Service Tax and Central Excise, Jodhpur
Status (Previous Disclosure)
The Commissioner (Appeals), Central Goods & Service Tax and Central Excise, Jodhpur has passed Order-in-Appeal No. 1153-1155 (SCM) CGST/JDR/2025 dated 28th November 2025 in respect of appeals filed by the Company against Order-in-Original No. 10/GST/UDR/2023-24/JC dated 30th July 2024. The order relates to alleged wrongful availment of Input Tax Credit for the period July 2017 to March 2020 involving disputed ITC of approximately Rs. 1.69 crore and interest of approximately Rs. 3.64 lakh. The Company has received the order on 29th December 2025 and is examining the order and evaluating further legal remedies, including filing a further appeal.
Entry I_OngoingTaxLitigationsOrDisputes8
Current Status
We have filed our appeal on 31.03.2026 before Commissioner of Central Tax (Appeals).
Date of Initiation
29-Dec-2025
Opposing Party
Commissioner, CGST, Nellore
Status (Previous Disclosure)
Order-in-Original No. NLR-AC-81/2025-26 dated 27th December 2025 has been passed by the Commissioner, CGST, Nellore under Section 74 read with Section 122(2)(b) of the CGST Act, 2017 for FY 2018-19 to FY 2020-21, confirming GST demand of Rs. 1,65,44,188 along with an equal penalty of Rs. 1,65,44,188 and applicable interest. The Company has received the order on 29th December 2025 and is planning to file an appeal before the appropriate appellate authority.
Entry I_OngoingTaxLitigationsOrDisputes9
Current Status
We have filed our appeal on 22.01.2026 before Commissioner (Appeals).
Date of Initiation
31-Oct-2025
Opposing Party
Assistant Commissioner, Bhubaneswar I Division
Status (Previous Disclosure)
A Demand Order dated 31st October 2025 has been passed by the Assistant Commissioner, Bhubaneswar I Division under Section 73 of the CGST Act, 2017 / OGST Act, 2017 for FY 2022-23. The adjudicating authority accepted the Company's defence for FY 2021-22 and dropped the demand of Rs. 64.21 lakh. However, a demand of Rs. 36,14,294 towards excess ITC for FY 2022-23 along with a penalty of Rs. 3,68,940 has been confirmed. The Company received the order on 31st October 2025 and intends to file an appeal before the appropriate appellate authority.
Entry MainD
Whether Part E Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Updates To Ongoing Tax Litigations Or Disputes Is Applicable To The Entity
Yes
Entry I_ImpositionOfFineOrPenalty1
Authority
Assistant Commissioner (State Tax), Ponneri Assessment Circle
Date Of Receipt Of Direction Or Order Including Any Ad Interim Or Interim Orders Or Any Other Communication From The Authority
04-Feb-2026
Financial / Operational Impact
No material financial impact on the Company at this stage, the Company is going to appeal against the said order.
Nature And Details Of The Action Taken Or Order Passed
Pursuant to the remand directions of the Hon’ble Madras High Court, the Assistant Commissioner (ST) has passed a fresh adjudication order for FY 2018–19 under the TNGST Act, 2017, whereby the original demand has been substantially reduced from ₹210.14 crores to ₹107.90 crores, with the balance demands being partly confirmed and partly dropped.
Violation Details
Alleged GST non-compliances for FY 2018– 19 relating to ITC reversals, advances received and taxability of certain receipts claimed as exempt
Entry MainD
Whether Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Applicable To The Entity
Yes