Regulatory Disclosure Details
The company made the announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The key highlights of the order are as follows:| Authority | Joint Commissioner, CGST & CX, Thane |
|---|---|
| Nature of Order | Demand Order of ₹1,53,90,000 related to Input Tax Credit |
| Period Covered | July 2017 - March 2018 |
| Date of Receipt | January 31, 2025, at 4:06 P.M. |
| Alleged Violation | Alleged ineligible ITC claim in GST returns |
| Financial Impact | No material impact on company’s financials, operations, or other activities |
Company’s Response
Nippon Life India Asset Management has stated that it intends to appeal against the demand order before the Appellate Authorities or explore other legal avenues to contest the claim.Despite the sizeable demand of ₹1.54 crore, the company has assured investors that there will be no material financial or operational impact due to this order.