Mahindra & Mahindra Ltd.

Mahindra & Mahindra has informed the Company has received an order from the Office of the Joint Commissioner, CGST & Central Excise Ujjain Commissionerate, Madhya Pradesh imposing a penalty u/s 73 of the CGST Act, 2017 amounting to Rs 33,95,034 in relation to the two-wheeler business of Mahindra Two Wheelers (‘MTWL’), which was demerged from MTWL and has since been merged with the Company. Based on the Company’s assessment, an appeal will be filed and 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 15th November, 2023 has been received by the Company on 20th November, 2023 around 3:30 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.