Escorts Kubota Limited informed that Deputy Commissioner of State Tax, Bihar has confirmed the penalty of INR 374,301 on the issue of computation of turnover, disallowance of discounts & sales return. Commissioner of Customs (Adjudication), Delhi Zone has confirmed the demand of INR 44.210867 along with applicable interest and penalty. Name of the authority; Deputy Commissioner of State Tax, Bihar.

Nature and details of the action(s) taken, initiated or order(s) passed; Deputy Commissioner of State Tax has passed an order confirming the penalty of INR 374,301 on the issue of computation of turnover, disallowance of discounts & sales return. Further, the department has adjusted INR 288,113 against the said penalty. Date of receipt of direction; June 24, 2024.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible; INR 374,301 on account of penalty. Name of the authority; Commissioner of Customs (Adjudication), Delhi Zone, Nature and details of the action(s) taken, initiated or order(s) passed; Commissioner of Customs has passed an order confirming the demand of INR 44.210867 million along with applicable interest and has imposed a penalty of INR 98.710867 million on valuation issue on imported goods. However, The Company intends to file an appeal against the said order.

Date of receipt of direction; June 24, 2024. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible; Total Demand for applicable duty of INR 44.210867 million along with applicable interest and penalty of INR 98.710867 million.