Adani Green Energy Limited — Important, 27-02-2025: Updates

Adani Green Energy Limited has received an order from the Office of Joint Commissioner of Central Tax, Lucknow, alleging the availment of excess input tax credit for FY 2020-21 amounting to ₹3.59 crore, which includes a penalty of ₹32 lakh. The company is currently reviewing the order in detail and exploring various options to contest the demand, including the possibility of filing an appeal. Despite this development, Adani Green Energy believes there is strong merit in their case and states that the situation will not materially impact the company's financial or operational activities. Investors should monitor this situation closely as the company prepares its next steps to address the tax order.