Schneider Electric Infrastructure Limited shareholders approved all resolutions at its 16th Annual General Meeting on September 10, 2026. The vote included the reappointment of Udai Singh as Managing Director and Chief Executive Officer.

The meeting was conducted via Video Conferencing/Other Audio-Visual Means in compliance with Ministry of Corporate Affairs and SEBI guidelines. Pravin Kumar Purang, Chairperson of the Board, presided over the session, which commenced at 3:30 pm and concluded at 5:09 pm.

Key Resolutions Passed

Shareholders approved the following matters with the requisite majority:

Voting Details

Remote e-voting commenced on September 7, 2026, at 9:00 am and continued until September 9, 2026, at 5:00 pm. The total paid-up equity share capital as on the cut-off date of September 3, 2026, was ₹47.82 crore divided into 23,91,04,035 equity shares of ₹2 each.

Anirudh Grover of Sanjay Grover & Associates served as the Scrutinizer for the voting process. Statutory Auditors S.N. Dhawan & Co. LLP and Secretarial Auditors Sanjay Grover & Associates attended the meeting via video conference. The Chairperson confirmed that the Auditors’ Report contained no qualifications or adverse remarks impacting the company’s financial health.

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.