General Announcement::Disclosure

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 22-Apr-2024 19:12:27
Status: New
Announcement Sub Title: Disclosure
Announcement Reference: SG240422OTHRCS7M
Submitted By (Co./ Ind. Name): Dhanjit Thaivallapil
Designation: Deputy Vice President
Description (Please provide a detailed description of the event in the box below): It is hereby informed that, a penalty of Rs.0.76 crore has been imposed on the Bank by GST Officer, Delhi for matter/s mentioned in the below table.

The details as required to be provided as per sub-para 20 of Para A of Part A of Schedule III of SEBI LODR Regulations are as follows:

1. Name of the authority -GST Officer, Delhi.
2. Period Involved- F.Y. 2018-19
3. Nature and details of the action(s) taken, initiated or order(s) passed Disallowance of input tax credit -Order passed under section 73 (9) of CGST Act
4. Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority. 20-04-2024
5. Details of the violation(s)/contravention(s) committed or alleged to be committed -Alleged excess availment of input tax credit
6. Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible- Rs.15.42 crore (includes tax, interest and penalty)

The Bank is evaluating appropriate legal remedy, including appeal, as per law.

Total size =665K