Glottis Limited has successfully resolved the GST scrutiny proceedings that were initiated against the company for Financial Year 2022-23. The company announced on April 24, 2026, that the GST authorities have dropped the proceedings and closed the scrutiny in favor of the company after finding their reply satisfactory.

Initial GST Scrutiny Notice

The company had initially received a GST scrutiny notice in Form GST ASMT-10 from the Office of the Superintendent of GST & Central Excise dated April 17, 2026. The notice alleged excess availment of Input Tax Credit (ITC) with a proposed liability of ₹2.73 crore for FY 2022-23.

Company's Response and Resolution

Glottis Limited submitted its reply on April 22, 2026, along with necessary reconciliations and clarifications addressing the allegations. The Office of the Superintendent of GST & Central Excise found the company's response satisfactory and subsequently passed an order in GST ASMT-12 dated April 24, 2026, dropping the proceedings.

Regulatory Compliance

The company disclosed this positive development through a regulatory filing under Regulation 30 of SEBI Listing Regulations on April 24, 2026. The disclosure was made pursuant to SEBI Master Circular and Industry Standards note on Regulation 30 of SEBI LODR Regulations. Nibedita Panda, Company Secretary and Compliance Officer, signed the disclosure filed with both NSE and BSE.

Impact Assessment

According to the company's latest disclosure, there are no financial, operational, or other implications arising from the resolution of the GST scrutiny proceedings. The successful resolution eliminates the previously proposed liability of ₹2.73 crore, providing clarity on the company's tax position for FY 2022-23.

Glottis Limited has issued a clarification to stock exchanges regarding recent significant movement in its share price, attributing the fluctuations to prevailing market conditions. The company submitted its response on April 15, 2026, addressing surveillance queries received from both the National Stock Exchange of India Limited and BSE Limited.

Exchange Surveillance Response

The clarification was submitted in response to specific surveillance letters received on April 13, 2026. The exchanges had sought explanations for notable price movements and increased trading volumes in the company's securities.

Management's Position

Glottis Limited's management, through Managing Director Ramkumar Senthilvel, stated that the price movement is purely market-driven. The company emphasized that management neither has control over nor possesses knowledge of the specific reasons behind the significant increase in trading volume of its scrip.

The response was digitally signed by Ramkumar Senthilvel on April 15, 2026, at 09:51:47 +05'30', confirming the company's official position on the matter.

Regulatory Compliance

The company reaffirmed its commitment to regulatory compliance, stating that it has consistently disclosed all required events and information to the exchanges. This includes timely intimation under Regulation 30 and other applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

Company Information

Glottis Limited, formerly known as Glottis Private Limited, operates from its registered office in Chennai. The company maintains both registered and corporate offices in Chennai, with comprehensive contact details provided for stakeholder communication.

The clarification serves as the company's formal response to exchange surveillance activities, maintaining transparency while attributing share price movements to natural market dynamics rather than any specific corporate developments or insider information.