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 announced a board meeting to address a significant update regarding pending litigation with the Odisha GST Department. The company had previously received a demand for ₹1.13 crore concerning the disallowance of input tax credit for the period from July 2017 to March 2018. Following an appeal, the Additional Commissioner of Appeals has annulled the demand, resulting in a demand amount of Nil. This development removes a potential financial burden, positively influencing the company's financial health and potentially enhancing investor confidence amidst previously unresolved regulatory challenges.