February 4, 2025
Amara Raja Energy & Mobility Ltd. (NSE: ARE&M | BSE: 500008) has provided an update regarding an ongoing legal matter concerning service tax liabilities on remuneration paid to its Managing Director. The disclosure is in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Litigation Update
- The Commissioner of Central Tax, Tirupati, CGST Commissionerate, has filed an appeal before the High Court of Andhra Pradesh.
- This appeal challenges the order passed by the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Hyderabad, which had previously set aside service tax, interest, and penalties levied on remuneration paid to the Managing Director.
- The case follows previous updates issued by the company on July 16, 2024, and August 14, 2023AMARAJABAT_040220251326….
Disclosure Details (Annexure A)
| Disclosure | Update |
|---|---|
| Change in status and development | Appeal filed by CGST Commissionerate before Andhra Pradesh High Court |
| Litigation involving key management personnel | Not applicable |
| Settlement details, penalties, and financial impact | Not applicable |
Regulatory Compliance
This disclosure aligns with the SEBI Master Circular issued on November 11, 2024, and Circular No. SEBI/HO/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The company has assured stakeholders that all updates will be shared in accordance with regulatory guidelinesAMARAJABAT_040220251326….Conclusion
Amara Raja Energy & Mobility Ltd. remains engaged in resolving this tax dispute, with the latest appeal escalating the matter to the High Court. The company continues to adhere to regulatory disclosures, ensuring transparency in the ongoing proceedings.For further updates, stakeholders are encouraged to track regulatory filings and future company announcements.
