Salora International Ltd has disclosed receiving a show cause notice from the Goods and Services Tax (GST) Department regarding the proposed cancellation of its GST registration. The company made this disclosure under Regulation 30(12) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as a matter of abundant caution and transparency.

GST Notice Details

The company received the show cause notice on March 27, 2026, with its GST registration being suspended with immediate effect from the same date. The notice pertains to the company's registered address at D-13/4 Okhla Industrial Estate, Phase-2, New Delhi, South East Delhi-110020.

Company's Response and Clarifications

Salora International has emphasized that the GST Department's communication is purely interim and provisional in nature, not constituting any final adjudication or determination regarding the cancellation of GST registration. The company has clarified that the proceedings are currently at a preliminary stage and remain subject to due process of law.

The management has stated that this matter has arisen in the ordinary course of business and is routine in nature. Accordingly, the company has advised that no adverse inference or conclusive liability should be drawn against it at this preliminary stage.

Legal Actions and Compliance

The company is actively pursuing appropriate legal remedies to address the show cause notice. Key actions being taken include:

• Filing necessary replies to the GST authorities
• Preparing for potential appeals before competent authorities
• Contesting the notice in accordance with applicable legal provisions
• Seeking professional legal advice for the proceedings
• Extending full cooperation to authorities during ongoing proceedings

Regulatory Disclosure

While acknowledging that this matter may not strictly fall within the disclosure requirements under Regulation 30(12) of SEBI regulations, Salora International has made this disclosure voluntarily. The company cited abundant caution and commitment to transparency as reasons for informing investors about these developments.

The disclosure was made to both BSE Limited and Calcutta Stock Exchange, ensuring comprehensive communication to all relevant stakeholders and investors about the ongoing GST proceedings.

Salora International Limited has disclosed to stock exchanges that the GST Department has provisionally attached its bank accounts under regulatory provisions. The company received the official communication from GST authorities on March 20, 2026, and made the mandatory disclosure on March 21, 2026, within 24 hours of receipt as required under SEBI listing regulations.

GST Department Action Details

The company received official communication from the GST Department regarding the provisional attachment of bank accounts under Section 83 of the Central Goods and Services Tax Act, 2017. The action affects the company's accounts maintained with two major banks.

Company's Position and Clarifications

Salora International has emphasized several key points regarding the nature of these proceedings. The company stated that the communication from GST authorities is purely interim and provisional in nature, not constituting a final adjudication or determination of any tax liability against the company.

The management clarified that the proceedings initiated by the concerned authority are currently at a preliminary stage and remain subject to due process of law. The company characterized these communications as being undertaken in the ordinary course of business and of a regular business nature, stating that no adverse inference or conclusive liability may be drawn at this stage.

Legal Response Strategy

The company has outlined its comprehensive approach to addressing the provisional attachment through proper legal channels. Salora International is in the process of availing appropriate legal remedies, including filing necessary objections and appeals before competent authorities.

Regulatory Disclosure Context

The disclosure was made pursuant to Regulation 30(12) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that while this development may not strictly fall under mandatory disclosures as per the regulation, they are making this disclosure as a matter of abundant caution for investor transparency.

Company Secretary and Compliance Officer Mohd Khizar Ali Khan signed the communication to BSE Limited, emphasizing the company's commitment to keeping investors informed about material developments. The disclosure was made to ensure proper dissemination of information on the exchange platform for the benefit of investors.