Piramal Enterprises Limited announced that Piramal Capital & Housing Finance Limited has received an order on 30th April, 2024 from the Commercial Taxes Department, Government of Telangana, levying a penalty of INR 86,842/- under Section 73 read with Section 122(2)(a) of the Central Goods and Services Tax Act, 2017 and corresponding sections of Telangana Goods and Services Tax Act, 2017 (Order), for the financial year 2018-19. The Company believes that it has adequate grounds to support its position in the matter and shall consider adopting the appropriate course of action in the best interest of the Company. The financial impact of the Order is to the extent of the penalty levied and there is no impact on financials of the Company.

The intimation is being submitted i.e. 2nd May, 2024, being the first working day after receipt of the Order.