Akzo Nobel India Limited — Important, 10-01-2025: Disclosure of material issue

Karnataka GST Department has issued an order disallowing input tax credit (ITC) for Akzo Nobel India Limited, leading to the recovery of ₹23.77 lakh (cr) related to claims from June 2017. This total includes ₹11.88 lakh (cr) in tax and an equal amount as penalty, along with interest payable at the applicable rate. The company is currently preparing its response to the order, which remains open for further submissions. Investors should monitor this situation closely, as the litigation could have financial implications depending on the outcome.