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

Akzo Nobel India Limited has disclosed receipt of a Show Cause Notice from the Punjab GST Department concerning disallowance of Input Tax Credit (ITC) and tax liabilities for the period between April 2020 and March 2021, totaling ₹1.20 crore. This amount includes ₹0.65 crore in tax, ₹0.48 crore in interest, and ₹0.06 crore in penalties. The company is preparing a response to the notice within the required timeframe. This situation may create potential financial exposure, impacting investor sentiment, but the management's proactive approach could mitigate risks if a favorable outcome is achieved.