Mahindra & Mahindra Ltd.

Mahindra & Mahindra has informed that the Company has received an order from the Office of Superintendent, CGST Rajasthan imposing a penalty u/s 122 (2)(b) of the CGST Act, 2017 amounting to Rs 1,22,222 alleging availment of ineligible Input Tax Credit (ITC) in contravention of Section 17 (5) of the CGST Act, 2017. Based on the Company’s assessment, the Company is hopeful of a favourable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company. The Order dated 14th November, 2023 has been received by the Company on 17th November, 2023 at 4:00 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.