CG Power and Industrial Solutions Limited announced that an order is passed by the Deputy Commissioner of Customs (Export) under the Customs Act, 1962 read with the relevant Rules on 3 May 2024 received by the Company on 9 May 2024. Nature and details of the action(s) taken, initiated or order(s) passed: Order under Section 117 of the Customs Act,1962 read with relevant Rules. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority: Order dated 3 May 2024 received on 9 May 2024.

Details of the violation(s)/contravention(s) committed or alleged to be committed: Order passed by the Deputy Commissioner of Customs (Export) under Section 117 of the Customs Act, 1962 read with relevant Rules, imposing penalty of INR 75,000 for delay in refunding duty drawback on account of non-realization of export proceed.