Welspun Corp. Limited has received an order from the Superintendent. CGST & Central, Range-Raisen, Division-III, Bhopal.

Name of the authority: Superintendent. CGST & Central, Range-Raisen, Div.-III, Bhopal. Nature and details of the action(s) taken, initiated or order(s) passed: Recovery of ITC credit availed on certain services during Fiscal Year 2018-19 and 2019-20.

Date of receipt of direction or order, including any ad interim or interim orders, or any other communication from the authority: Received on 28-March-2024 by e-mail. Details of the violation(s)/contravention(s) committed or alleged to be committed: Order under section 74 of CGST Act 2017 read with section 20 of the IGST Act, 2017. Amount of Penalty Imposed INR 1,199,909.

Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible: There is no material impact on the financials or operations or other activity of the company on account of this order. The order is appealable and the company shall take necessary legal remedies available under the law.