Akzo Nobel India Limited — Others, 22-02-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Akzo Nobel India Limited has provided an update regarding pending litigation related to a show cause notice from the Punjab GST Department. The company received the notice on November 29, 2024, concerning an input tax credit disallowance for the period April 2020 to March 2021, with an initial demand of ₹3.73 lakh (₹3,72,914). Following a detailed response to the notice, the Assistant Commissioner concluded the matter, issuing an order on February 20, 2025, which resulted in a demand amount of Nil.

This outcome signifies a positive resolution for the company, potentially enhancing its financial position and reassuring investors about ongoing compliance. Such developments may improve investor sentiment, indicating reduced risks associated with the litigation.