Bajaj Electricals has received a favorable appellate order dated May 11, 2026, from the Office of the Appellate Joint Commissioner of State Tax, Secunderabad, Hyderabad, Telangana, resulting in the complete dropping of an aggregate GST demand of Rs. 22.89 lakh. The order was received by the company on May 11, 2026, at 12:57 p.m., and was disclosed under Regulation 30 of the SEBI Listing Regulations.

Background of the GST Dispute

The matter traces back to an assessment order dated August 31, 2024, issued by the Office of the Deputy Commissioner, Secunderabad STU-1, Telangana, under Section 73 of the CGST/TGST Act, 2017. The original order had raised an aggregate demand against Bajaj Electricals on account of alleged excess Input Tax Credit (ITC) claimed during FY 2019-20. The company had disclosed the receipt of this assessment order to the exchanges on August 31, 2024.

Key Details of the Appellate Order

The following table summarizes the key parameters of the original demand and the appellate outcome:

Company's Submissions Accepted

The Appellate Authority accepted the submissions made by Bajaj Electricals and passed the order in favor of the company, thereby dropping the aggregate demand of Rs. 22.89 lakh, inclusive of the general penalty of Rs. 2.08 lakh. The company has stated that there is no impact on its operational, financial, or other activities on account of this appellate order.

The disclosure was made by Prashant Dalvi, Chief Compliance Officer & Company Secretary (ICSI Membership No.: A51129), in accordance with Regulation 30 read with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bajaj Electricals has announced the appointment of Ms. Ashween Anand as its Chief Financial Officer (CFO) Designate, with the role set to take effect from May 14, 2026. The disclosure was made under Regulation 30 of the SEBI Listing Regulations by Chief Compliance Officer & Company Secretary Prashant A. Dalvi. Ms. Anand will also be appointed as CFO in the ensuing Board Meeting, marking a significant development in the company's senior leadership structure.

Appointment Details

The following table summarises the key parameters of this leadership appointment:

Leadership Profile

Ms. Ashween Anand is an accomplished finance leader with over 16 years of diverse experience across finance, strategy, and governance. She has worked with leading global organisations including EY, Deloitte, Mondelez International, Colgate-Palmolive, and most recently Tata Starbucks — a joint venture between Tata Consumer Products and Starbucks — where she serves as Chief Financial Officer. Her broad exposure spans financial planning, treasury, taxation, internal audit, and finance transformation, along with transaction advisory and assurance experience from her tenures at Deloitte and Ernst & Young.

In her role at Tata Starbucks, Ms. Anand has been responsible for driving profitable growth and financial strategy, partnering with the Board and leadership to build scalable capabilities, and spearheading automation, analytics, and technology-led transformation initiatives. She has also focused on strengthening operating models, cost structures, and capital efficiency across a large and complex business.

Prior Experience and Qualifications

Prior to Tata Starbucks, Ms. Anand held finance leadership roles at Mondelez International (formerly Cadbury India) and Colgate-Palmolive, managing India and key export markets including Bangladesh, Nepal, Sri Lanka, and the Maldives, along with regional roles at the Asia Pacific headquarters in Singapore. Her academic credentials include being a Chartered Accountant from the Institute of Chartered Accountants of India, a Master's degree in Commerce from the University of Mumbai, and having cleared all levels of the CFA program from the CFA Institute (USA). She is also a graduate in Speech & Drama and Effective Communication from Trinity College London. Ms. Anand has been recognised with leading industry accolades, including the Economic Times CFO of the Year 2024 and ET Edge Impactful CFO of the Year 2024.