Sterling and Wilson Renewable Energy Limited — Others, 17-04-2025: Action(s) initiated or orders passed

Sterling and Wilson Renewable Energy Limited has disclosed that the Gujarat GST authorities issued an order for a tax shortfall of approximately ₹84.63 Crore, along with equal penalties and interest, covering the period from May 2018 to March 2020. Importantly, the company notes that this situation will not affect its financial position due to an Indemnity Agreement with Reliance New Energy Limited, Shapoorji Pallonji and Co. Pvt. Ltd., and Mr. Khurshed Daruvala. The company intends to appeal the order, which may introduce a potential risk but overall suggests a neutral impact on financial health, keeping investor sentiment steady.