Parag Milk Foods Limited Receives Orders from the Central Range 2. Pune of the Income Tax Department

Parag Milk Foods Limited announced that the Company has received Orders from the Central Range 2. Pune of the Income Tax Department levying penalty under section 271E of the Income Tax Act, 1961. Name of the authority: Central Range 2, Pune of Income Tax Department. Penalty of INR 8.9 million imposed vide Order for Assessment Year 2020-21.

Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: 18.02.2025. Details of the violation(s)/contravention(s) committed or alleged to be committed: The Company has received a penalty order of INR 8.9 million under section 271E of the Income Tax Act, 1961 for the Assessment Year 2020-21 for violation of sec 269T of the Income Tax Act, 1961. Name of the authority: Central Range 2, Pune of Income Tax Department.

Penalty of INR 15 million imposed vide Order for Assessment Year 2022-23. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: 18.02.2025. Details of the violation(s)/contravention(s) committed or alleged to be committed: The Company has received a penalty order of INR 15 million under section 271E of the Income Tax Act, 1961 for the Assessment Year 2022-23 for violation of sec 269T of the Income Tax Act, 1961.