ETERNAL LIMITED — Important, 12-12-2024: General Updates

Zomato Limited has received an adjudication order demanding GST of ₹401.70 Crore, with an equal penalty, relating to non-payment on delivery charges for the period from October 29, 2019, to March 31, 2022. The order was issued by the Joint Commissioner of CGST & Central Excise. The company believes it has a strong case and will appeal the decision, supported by opinions from external legal and tax advisors. Investors should monitor this situation closely, as the outcome of the appeal could significantly impact the company's financials.