Akzo Nobel India Limited — Others, 26-11-2024: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Akzo Nobel India Limited disclosed a litigation involving the Uttar Pradesh GST Department, which pertains to a Show Cause Notice regarding disallowed Input Tax Credit (ITC) and outstanding tax liabilities amounting to ₹1.92 crore. This sum includes a tax portion of ₹1.75 crore and a penalty of ₹0.17 crore, with no interest due. The company's management is addressing the notice and plans to submit a response, which may influence potential financial implications. Investors may view this as a potential risk, depending on the outcome of the litigation and the company's ability to mitigate the financial impact.