CG Power and Industrial Solutions Limited announce that a demand order is passed by the State Tax Officer, Pondy Bazaar, Assessment Circle under TNGST Act, 2017 on 30th April, 2024 received by the Company on 2nd May, 2024. Nature and details of the action(s) taken, initiated or order(s) passed; Order under TNGST Act 2017 passed imposing penalty. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority; Order dated 30th April, 2024 received on 2nd May, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: Demand Order passed by the State Tax Officer,
Pondy Bazaar, Assessment Circle under TNGST Act, 2017, imposing penalty of INR 20,000/- on account of ITC disallowed on purchase from cancelled GSTN in Fiscal Year 2018-19. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no material impact on financial, operations or other activities of the Company.