TVS Electronics Limited — Others, 28-11-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

TVS Electronics Limited has announced a board meeting to discuss a pending litigation matter involving the Office of the Deputy Commissioner of State Tax (SGST), Gurugram (East), Haryana. The litigation concerns a Show Cause Notice regarding a demand for ₹73.20 crore, including interest and penalties for the financial year 2020-21 due to alleged excess Input Tax Credit (ITC) claims. The company is currently preparing a response to this notice. This situation may pose a potential risk to the company's financial health and could affect investor sentiment depending on the outcome of the proceedings.