Comfort Commotrade Ltd. Receives Recovery Order from Assistant Commissioner of State Tax for Rs. 2,25,19,203

Comfort Commotrade Ltd. has received a recovery order under Section 79(1)(c)(i) of SGST Act, 2017 from the Assistant Commissioner of State Tax, Mazgaon, Mumbai, directing the Company to pay a sum of Rs. 2,25,19,203/- (Tax + Interest + Penalty) to the Government for the Financial Year 2020-21. The Company believes that the order is not in accordance with its contentions and is in the process of filing an appeal. The Company does not expect any material financial impact from this demand.