Updater Services has informed that the company M/s. Fusion Foods and Catering Private Limited, a Subsidiary of Updater Services Limited (‘Holding Company’), has received an order from the office of the Assistant Commissioner, Chennai, Tamil Nadu for an amount of Rs 1,01,42,848 under Sec 73 of the CGST Act, 2017. Based on the company, M/s. Fusion Foods and Catering Private Limited’s assessment, the order has been passed without considering the response which we have submitted against the notice. The holding company is in the process of exploring all legal options including filing writ / appeal before the Appellant authority and the company Updater Services is hopeful that there will be no significant financial impact in this case. 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/PoD2/CIR/P/0155 dated November 11, 2024, is enclosed as Annexure A.
The above information is a part of company’s filings submitted to BSE.
