ABB India Limited — Important, 24-02-2025: General Updates

ABB India Limited faces a penalty of ₹98.83 crore imposed by the State Tax Officer, Chennai, for an alleged excess claim of Input Tax Credit from non-operational income under the CGST Act. The company intends to appeal the decision, asserting that the order does not consider its prior submissions. ABB India remains optimistic about a favorable resolution and anticipates that this penalty will not have a significant material impact on its operations. This situation presents a potential risk but could also demonstrate the company's resilience in challenging regulatory actions. Investors should watch closely for developments in the appeal process.