Akzo Nobel India Limited — Others, 30-11-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Akzo Nobel India Limited has announced a board meeting on addressing a Show Cause Notice received from the Assam GST Department regarding the disallowance of Input Tax Credit (ITC) and associated tax liabilities from April 2020 to March 2021, totaling approximately ₹31.16 lakh. The notice outlines a tax amount of around ₹16.85 lakh, interest of ₹12.63 lakh, and a penalty of ₹1.68 lakh. The management plans to respond to the notice within the stipulated timeframe, suggesting an ongoing review process. This situation may introduce some investor caution due to potential financial implications, but the company's proactive engagement indicates a focused response strategy.