Schneider Electric Infrastructure Limited concluded its 16th Annual General Meeting on September 10, 2026, with shareholders approving all ordinary and special business resolutions. The meeting was conducted via Video Conferencing/Other Audio-Visual Means in compliance with Ministry of Corporate Affairs and SEBI guidelines.

The session commenced at 3:30 pm and concluded at 5:09 pm, including time allocated for e-voting. Pravin Kumar Purang, Chairperson of the Board, presided over the proceedings. Sumit Goel, Company Secretary and Compliance Officer, facilitated the meeting, which utilized NSDL’s e-voting platform.

Key Resolutions Passed

Shareholders approved the following matters with the requisite majority:

Governance and Audits

The Chairperson confirmed that the Auditors’ Report contained no qualifications, modified opinions, or adverse remarks impacting the company’s financial health. Statutory Auditors S.N. Dhawan & Co. LLP and Secretarial Auditors Sanjay Grover & Associates attended the meeting via video conference.

Remote e-voting commenced on September 7, 2026, at 9:00 am and continued until September 9, 2026, at 5:00 pm. Members who had not voted remotely were permitted to cast their votes during the meeting. Anirudh Grover of Sanjay Grover & Associates served as the Scrutinizer for the voting process.

Udai Singh, Managing Director and CEO, presented insights into the company’s business operations and financial performance to the members. The Board expressed gratitude to shareholders for their continued support.

Schneider Electric Infrastructure Limited received a GST penalty of ₹35,18,008 from the Chennai Commissionerate on September 9, 2026. The order stems from an audit of FY22-23 operations.

The company disclosed the receipt of the Order-in-Original vide no. 99/2026-GST (ADC) dated August 31, 2026, under Regulation 30 of SEBI Listing Regulations. The adjudication covers multiple tax demands and penalties.

Penalty and Demand Breakdown

The GST Authority imposed the penalty under Section 122(2)(a) read with Section 73(9) of the CGST Act, 2017. Interest is recoverable at applicable rates.

Key Findings in the Order

The authority confirmed demands for:

• Non-payment of IGST on export services due to non-receipt of convertible foreign exchange.
• Availment of ineligible input tax credit (ITC).
• Non-payment of GST for supplies to Special Economic Zone units without endorsement.
• Non-reversal of ITC as per credit notes reflected in GSTR2A.

The authority dropped a proposed demand of ₹67,316 relating to alleged duplicate availment of ISD credit.

What the Numbers Show

The total confirmed tax demand exceeds ₹3.8 crore, while the penalty constitutes approximately 9% of this principal demand. This structure indicates the authority treated the violations as procedural non-compliance rather than intentional evasion, which typically attracts higher penalties.

Company Response

Schneider Electric Infrastructure stated it is evaluating the order and considering appropriate legal remedies. The company asserted there is no material impact on its financials or routine business activities, limiting the impact to the liability specified in the order.