Aether Industries Limited announced that the show-cause notice in connection with non-declared tax for the Fiscal Year 2018-19, is dropped off by the concerned Government authorities. Details of the same are as mentioned below: Name of the Authority: State Tax Officer, Commissionerate of Taxes Government of Gujarat, India. Brief details of the show-cause notice: Seeking response about non-declaration of correct tax liability while filing the annual returns vide Form GSTR-09 for the Fiscal Year 2018-19.

Financial implication: INR 9,693,757.00. There will be no material impact over Company's financial, operation or other activities.