Havells India Limited — Important, 30-11-2024: Updates

A cautionary letter was received from the stock exchanges regarding a delay in filing an order from the Deputy Commissioner of State Tax in Guwahati, Assam. The order involves a demand of ₹16.64 lakh, encompassing tax, interest, and penalty for the period April 2018 to March 2019. Havells India Limited had appealed this order and made a pre-deposit of ₹78,193 on May 8, 2024. The delay in disclosure after receiving the order on April 30 was noted seriously by the exchanges, urging the company to exercise due diligence moving forward. The company has acknowledged the compliance issue and affirmed its commitment to timely disclosures. Stakeholders should monitor how this situation evolves, as compliance lapses may affect investor confidence.