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 scheduled its 38th Annual General Meeting (AGM) for Monday, August 03, 2026, at 4:00 P.M. IST via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The meeting will transact ordinary business, including the adoption of financial statements for FY 2025-26 and the re-appointment of Mr. Narendra Kumar Lodha as a Director liable to retire by rotation. Shareholders will also vote on special resolutions concerning the approval of commissions to Independent Directors and the sale or leasing of assets exceeding 20% of its material subsidiary, Kalpataru Properties Limited (KPL).

The Board has recommended the ratification of remuneration payable to Cost Auditor Messrs. V. B. Prabhudesai & Co. for FY 2026-27, amounting to ₹1,75,000 plus applicable taxes. Additionally, the appointment of Messrs. Rathi & Associates as Secretarial Auditors for a term of five years from FY 2026-27 to FY 2030-31 is proposed. The meeting will also seek approval for material related party transactions involving a shortfall undertaking and personal guarantee by Mr. Parag M. Munot, Managing Director and Promoter, for term loans and NCD issuances aggregating up to ₹1,750 crore.

E-Voting and Participation Details

Members entitled to vote must have their names recorded in the Register of Members or the List of Beneficial Owners as of Monday, July 27, 2026. Remote e-voting commences on Thursday, July 30, 2026, at 09:00 A.M. IST and concludes on Sunday, August 02, 2026, at 05:00 P.M. IST. Members who have voted remotely cannot vote again during the AGM but may attend the meeting via VC/OAVM.

Access to Documents

The Notice of the 38th AGM and the Annual Report for FY 2025-26 are available electronically. Members with registered email addresses received the documents on July 10, 2026. Physical copies will be dispatched upon request. The documents are accessible on the company’s website, BSE, and NSE platforms.