CG Power and Industrial Solutions Limited — Others, 28-02-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

CG Power and Industrial Solutions Limited has announced a board meeting to discuss the impact of recent assessment orders received from the Income Tax Department for the financial years 2014-15 to 2019-20, totaling tax demands of approximately ₹288.4 crore. These assessments, completed after the Hon’ble Bombay High Court's directive to allow revised returns, include disallowances the company intends to challenge through appeals. The outcome of these appeals is crucial, as the company believes it has a fair chance of success, which could significantly affect its financial position. The situation presents a potential risk for investors, but also an opportunity if the appeals are favorable.