Usha Martin Limited — Others, 05-02-2025: Action(s) taken or orders passed

Usha Martin has announced a board meeting to address a penalty of ₹7.14 crore imposed by the Commissioner of CGST & CX, Jamshedpur, for non-payment of service tax on royalty from April 2016 to June 2017. The company contests the allegation and plans to appeal the decision. Management believes that this order will not impact the company's financial or operational activities at this time. While the penalty could raise concerns among investors, the company's proactive stance to contest it may instill confidence in its governance and risk management strategies.