Kalpataru Retail Ventures, a wholly owned subsidiary of Kalpataru Limited , is facing a demand of Rs.63.49 crore following a final assessment order issued by Maharashtra State Electricity Distribution Company Ltd. (MSEDCL). The order, dated July 07, 2026, was issued under Section 126 of the Electricity Act, 2003, alleging violations related to the passing of electricity to retailers within mall premises. This development poses a significant financial liability to the subsidiary, which is currently evaluating the order and available legal remedies.

The dispute stems from a provisional assessment order previously challenged by Kalpataru Retail Ventures (KRVL) through a Writ Petition filed before the Hon'ble High Court of Judicature at Bombay. While the petition was pending, MSEDCL proceeded to issue the final assessment order. In response, the High Court passed an order on July 9, 2026, in Writ Petition No. 8455 of 2026, directing KRVL to deposit 50% of the assessed amount with the Court Registry within three weeks from the date of the order.

KRVL has stated that it believes the demand is without legal basis and is liable to be set aside or quashed. The subsidiary is pursuing appropriate legal proceedings before competent forums based on advice received. The immediate financial impact involves the deposit of approximately Rs.31.75 crore, representing 50% of the total demand, as directed by the court.

The disclosure was made to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kalpataru Limited informed the National Stock Exchange of India Limited and BSE Limited that it received information regarding the High Court order at 8:15 p.m. on July 10, 2026. Gajendra Mewara, Company Secretary & Compliance Officer, signed the disclosure on behalf of the company.

Key Details of the Assessment and Court Order

Kalpataru Limited has completed the dispatch of the Notice of its 38th Annual General Meeting (AGM) and the Annual Report for the financial year 2025-26. The AGM is scheduled to be held on Monday, August 03, 2026, at 4:00 P.M. IST through Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The proceedings of the meeting will be deemed to be conducted at the company's Registered Office in Mumbai. This disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company dispatched the documents electronically on July 10, 2026, to members whose email addresses were registered with its Registrar and Transfer Agent (RTA), MUFG Intime India Private Limited, or the Depositories Participants as of the cut-off date of July 03, 2026. A letter providing the web-link for accessing the Annual Report is being sent to members who have not registered their email IDs. Physical copies will be dispatched upon request. The information was also advertised in newspapers on July 11, 2026.

E-Voting and Participation Details

In compliance with Section 108 of the Companies Act, 2013, and relevant SEBI regulations, the company has provided a remote e-voting facility. Members whose names are recorded in the Register of Members or the List of Beneficial Owners as of Monday, July 27, 2026, are entitled to vote.

Members can cast votes remotely or during the AGM via e-voting. Specific links are available for shareholders holding securities in demat mode with NSDL or CDSL, and for non-individual shareholders. Once a vote is cast, it cannot be changed. Members may attend the AGM through VC/OAVM using secured login credentials, even if they have voted remotely, but cannot vote again.

Access to Documents

Shareholders can access the Notice of the 38th AGM and the Annual Report for FY 2025-26 through the following official channels:

The documents are also available on the websites of BSE Limited and National Stock Exchange of India Limited. Members are requested to update or register their email addresses with their depository participants to receive future communications. For queries regarding e-voting or participation, shareholders may contact MUFG Intime India Private Limited.