ABB India Limited — Important, 25-02-2025: General Updates

ABB India Limited has received a penalty order amounting to Rs. 19,12,010 (19.12 Cr) from the Assistant Commissioner, Bidhannagar Division CGST and Central Excise, Kolkata, relating to excess claims of Input Tax Credit for the financial year 2020-21. The company disputes the order, believing it was issued without considering its submissions, and plans to file an appeal. ABB India remains optimistic about a favorable outcome from the appeal process and does not anticipate any material impact on its financial position from this order. Investors should monitor developments regarding the appeal, as the outcome could influence the company’s financial health and operational stability.