Indo Rama Synthetics (India) Limited — Others, 03-02-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Indo Rama Synthetics (India) Limited disclosed receipt of an order from the Department of CGST Surat, relating to an alleged GST violation by a co-licensee, Mohit Industries Limited. The order mandates recovery of refunds totaling ₹10.22 crore, along with an equal penalty imposed on Indo Rama Synthetics. The company is contesting this penalty through an appeal at the Commissioner (Appeal) Surat. This situation could create pressure on Indo Rama's financial health, highlighting potential risks for investors, while ongoing legal proceedings may impact short-term operational stability.