Zaggle Prepaid Ocean Services Limited — Others, 03-06-2025: Action(s) initiated or orders passed

Zaggle has been levied a penalty of Rs. 84.61 lakh for claiming excess Input Tax Credit in FY 2017-18, with an additional Rs. 25,000 penalty on each director. The company has filed an appeal and expects a favorable resolution without any significant financial impact. This update clarifies a pending tax issue, reassuring shareholders that it does not currently affect the company’s financial position.