Prudent Corporate Advisory Services Limited has received a GST notice from tax authorities involving a substantial demand of ₹3,71,61,875 for financial years 2021-22 to 2022-23. The company disclosed this development on April 22, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GST Notice Details

The notice has been issued by the Directorate General of Goods & Service Tax Intelligence (DGGI), Zonal Unit, Ahmedabad, Gujarat. The company received the notice on April 21, 2026, in Form GST DRC-01 under Section 74 of the CGST/SGST/IGST Act 2017.

Alleged Contraventions

The tax authorities have alleged that Prudent Corporate Advisory Services availed certain ineligible input tax credit in contravention of provisions under Section 16(i) of CGST Act read with Section 17(2) & (3) of CGST/SGST/IGST 2017. The notice also includes:

• Interest charges as per Section 50 under CGST/SGST Act, 2017
• Penalty provisions under Section 74(1) read with Section 122 of CGST/SGST/IGST Act, 2017

Company's Response and Impact Assessment

Prudent Corporate Advisory Services has stated that it is currently reviewing the notice and will respond appropriately within the prescribed timelines. The company has assessed that it does not anticipate any material impact on its financial, operational, or other activities due to this notice.

The company's management, through Company Secretary Kunal A. Chauhan, has formally communicated this disclosure to both the National Stock Exchange of India and BSE Limited as required under regulatory obligations. The company maintains that it will address the notice through proper legal channels while ensuring compliance with all prescribed procedures and timelines.

Prudent Corporate Advisory Services Limited has fulfilled its regulatory obligations by submitting the mandatory compliance certificate under SEBI regulations for the quarter ended March 31, 2026. The submission demonstrates the company's commitment to maintaining transparency and adherence to securities market regulations.

Regulatory Compliance Submission

The company submitted its certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 to both major stock exchanges on April 7, 2026. Company Secretary Kunal Chauhan, holding membership number FCS-13492, digitally signed and submitted the documentation to ensure timely compliance.

Registrar Confirmation

MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited, serves as the company's Registrar and Share Transfer Agent. The RTA issued the confirmation certificate on April 1, 2026, validating the proper handling of securities dematerialisation processes during the quarter.

The certificate confirms that securities received from depository participants for dematerialisation were properly processed within prescribed timelines. Sr. Vice President-Corporate Registry Ashok Shetty signed the confirmation on behalf of MUFG Intime India Private Limited.

Dematerialisation Process Compliance

The RTA confirmed several key compliance aspects for the quarter:

• Securities received from depository participants were confirmed (accepted/rejected) to depositories within required timeframes
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialisation were properly mutilated and cancelled after verification
• Depository names were substituted in the register of members as registered owners within prescribed timelines

Corporate Information

Prudent Corporate Advisory Services Limited operates from Prudent House, located in Devang Park Society, Panjarapole Cross Road, Ambawadi, Ahmedabad. The company maintains its registered office in Ahmedabad and continues to ensure regulatory compliance across all operational aspects.

The submission of this quarterly compliance certificate reinforces the company's adherence to SEBI regulations and maintains transparency in its securities handling processes through its appointed registrar and transfer agent.