Brigade Enterprises will hold a one-on-one meeting with Morgan Stanley on September 28, 2026. The interaction is scheduled as part of the Virtual India Property Seminar organised by the investment bank.

Meeting details

The company disclosed the schedule in a filing to stock exchanges, citing Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The event is planned to take place virtually.

Disclosure and conditions

Brigade Enterprises noted that the schedule is subject to change or cancellation. This may occur due to exigencies on the part of the analysts, investors, organiser, or company officials. The information has also been uploaded to the company website for public access.

Brigade Enterprises Limited received a show cause notice (SCN) from GST authorities under the Central and Karnataka Goods and Services Tax Acts, 2017. The company stated that the notice has no impact on its financial, operational, or other activities.

The SCN was issued under Section 73(1) of the Central/Karnataka Goods and Services Tax Act, 2017, read with Rule 142(1)(a) of the corresponding Rules, and Section 20 of the Integrated Goods and Services Tax Act, 2017. Brigade Enterprises disclosed this development to stock exchanges on September 24, 2026, in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Nature of the dispute

The tax authorities raised three primary concerns in the notice:

• An arbitrary tax proposal based on revenue differences between financial statements and GST returns, including notional incomes as per accounting standards.
• Alleged excess availment of Input Tax Credit (ITC) in returns compared to ITC available in electronic GST reports.
• Alleged short reversal of ITC attributable to exempted turnovers declared in returns.

Brigade Enterprises contested the procedural validity of the notice, stating it was served in gross violation of the principles of natural justice. The company noted that the SCN was issued without providing a reasonable opportunity for filing suitable submissions.

Company response and implications

Brigade Enterprises asserted that the SCN has no merits. The company plans to make necessary submissions before the concerned GST authorities within the stipulated timelines. Regarding the quantum of claims, the company marked this as Not Applicable in its disclosure.

What the numbers show

The disclosure explicitly states there is no impact on the financial, operational, or other activities of the company due to this SCN. Furthermore, the quantum of claims is listed as "Not Applicable," indicating that no specific monetary penalty or demand amount has been finalized or disclosed at this stage of the dispute.