With reference to the captioned subject, we would like to inform you that the Company has received a demand order from the Office of Excise & Taxation Officer-cum Designated Officer, S.A.S.Nagar, Excise & Taxation Bhavan, Sector-69, S.A.S. Nagar (Mohali), Punjab imposing a penalty of Rs. 40,82,874/- under section 53 and section 60 of Punjab VAT Act, 2005 in relation to the excess VAT ITC claimed by the Company on account of entry tax paid on the purchase of Oil & Lubricants in FY2013-14 as mandated under the provisions of Punjab VAT Act, 2005. Based on the Company s assessment, an appeal will be filed, and the Company is hopeful of a favorable outcome at the appellate level and does not reasonably expect the said Order to have any material financial impact on the Company. The Order dated 9th May, 2025 has been physically handed over to us in person by the Excise & Taxation Department on 3rd June, 2025 at 11:00 A.M. The details of the above Order, as required under Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November, 2024 is enclosed as Annexure A.