MODISON LIMITED — Others, 29-03-2025: Action(s) taken or orders passed

Modison Limited has received an order from the Assistant Commissioner of State Tax in Vapi, Gujarat, imposing a demand of Rs. 395.70 Cr, including interest and penalties due to a short levy of VAT caused by the misclassification of goods for the periods from April 2016 to June 2017. The company plans to appeal this order within the required timeframe. Notably, the management has stated that this situation will not materially impact the company's financials or operations. Investors may view this as a potential risk, but the lack of immediate financial impact suggests a neutral outlook for now.