Rane (Madras) Limited — Others, 01-07-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Rane (Madras) Limited has announced a Show Cause Notice from the Additional Commissioner of Central Tax and Central Excise concerning excess or incorrect input tax credit claims, short tax payments, and issues related to job work procedures and reverse charge mechanism for financial years 2018-19 to 2023-24. The tax demand totals Rs. 22.64 Cr plus applicable interest and penalties. The company is confident it can provide necessary clarifications and is preparing a detailed reply to contest the entire claim. This development is important for shareholders as it involves a significant contingent tax liability.