Kalpataru Subsidiary Agile Real Estate Receives Order from Joint Commissioner of CGST, Mumbai for Tax Demand of Rs. 2,51,86,746

Agile Real Estate Private Limited (AREPL), a subsidiary of Kalpataru Limited, has received an Order from Joint Commissioner of CGST, Mumbai – West, under Section 74 of CGST Act read with corresponding provisions of MGST Act, for the financial year 2019-20. The Order raises a tax demand of Rs. 2,51,86,746 plus applicable interest and penalty of an equivalent amount of tax, on account of short reversal of input tax credit (ITC). AREPL plans to file an appeal against the Order with the appropriate GST Appellate Authority, believing that it has a strong case and is hopeful of a favourable outcome. The Order does not have a material financial impact on the Company and is received by AREPL on March 30, 2026 around 5.51 p.m.