Mahindra & Mahindra has informed that the Company has received an order from Excise and Taxation Officer – Cum- Designated Officer Mohali imposing a penalty of Rs 10,000 with respect to VAT assessment for the period 2016-17 under the Punjab VAT Act, 2005. Based on the Company’s assessment, there is no non-compliance and a general penalty has been imposed under Section 60 of the Punjab VAT Act, 2005 without listing any specific contravention in the Order. The Company does not expect the said penalty to have any material financial impact on the Company. The Order dated 24th January, 2024 has been received by the Company on 24th January, 2024 around 12:30 pm. The details of the above Order, as required under Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July, 2023 is enclosed as Annexure A.
The above information is a part of company’s filings submitted to BSE.