Carraro India Limited — Others, 12-04-2025: Action(s) initiated or orders passed

Carraro India Limited has received an initial Show Cause Notice from the Income Tax Department concerning a potential penalty related to the Assessment Year 2022-23. The Company is required to respond to this notice, and it plans to submit a detailed reply with supporting evidence and legal justifications to seek relief from the penalty. There is currently no immediate impact on the Company's financial or operational activities due to the notice. The management remains optimistic about receiving a favorable resolution based on legal advice. Investors may view this situation with a neutral impact, as the Company appears prepared to address the issue effectively.