Mahindra & Mahindra Ltd.

Mahindra & Mahindra has informed that the Company has received an order from the office of the Deputy Commissioner of State Tax, Pune, LTU-2 imposing penalty u/s 73 of the CGST Act, 2017 amounting to Rs. 40,000/- with respect to certain minor discrepancies in Input Tax Credit (ITC) claims arising out of vendor non-compliance. This order is issued against erstwhile Mahindra Vehicle Manufacturers, which 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 22nd July 2024 has been received by the Company on 22nd July 2024 around 04:00 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.