CreditAccess Grameen Limited announced that further to the Order passed by Assessment Unit of Income Tax Department dated February 28, 2023 reducing the Income Tax Demand for AY18-19 from INR 23,330 million to INR 1,226.3 million, the Company had preferred an appeal to the Commissioner of Income Tax (Appeals), Income Tax Department, for stay of outstanding demand of INR 1,226.3 million. In respect of the aforesaid matter, we would like to inform you that the Commissioner of Income Tax (Appeals), has vide its order dated October 17, 2023, has considered and accepted the appeal of the Company thereby effectively rejecting all the grounds on which the Income Tax Demand of INR 1,226.3 million was made against the Company for AY18-19.