Usha Martin Limited informed that an Order has been issued by the Deputy Commissioner of State Tax, Adityapur Circle, Jamshedpur which was made available to the Company through GSTN Portal on May 25, 2024. Name of the authority: Deputy Commissioner Of State Tax, Adityapur Circle, Jamshedpur. Nature and details of the action(s): In relation to Non-Payment of GST Liability relating to the erstwhile steel division of the Company under CGST Act, 2017 for the financial year 2018-19, the said authority ordered to pay a Penalty of INR 8,517,600 under sub-section 9 of Section 73 of the CGST Act, 2017 on account of the above.

Date of receipt of communication from the authority: Copy of the Order was made available on the GST portal on 25th May, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: Allegation of Non-Payment of GST liability under CGST Act, 2017 for the Financial Year 2018 - 19.