The Hi-Tech Gears Limited — Important, 24-02-2025: General Updates

The company has received a demand order from the Excise & Taxation Department in Gurugram, totaling ₹8.75 cr, which includes tax, interest, and penalty. This order relates to claims regarding input tax credits under the HGST and CGST Acts. The company states that this will not significantly affect its financial or operational activities, aside from the necessary payment of the demanded amount. Management is proceeding to file an appeal against this decision, indicating a proactive approach to address the issue. Investors should watch closely as this development could have implications for the company's financial health, depending on the appeal outcome.