Siemens Ltd has received a formal request from Siemens Energy Holdco B.V. and Siemens Energy Holding B.V. to reclassify their shareholder status from "promoter" to "public" under SEBI Listing Regulations.

The Dutch entities, currently classified as promoters, hold nil equity shares in the Indian listed company and exercise no control over its affairs. The request was submitted on September 7, 2026, and will be placed before the Board of Directors at its ensuing meeting for necessary regulatory steps.

Regulatory Compliance Details

The request aligns with Regulation 31A(8) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The entities confirmed they meet all criteria for reclassification, including:

• Holding no equity shares jointly or individually
• Exercising no direct or indirect control over company affairs
• Having no special rights through shareholder agreements
• Not being represented on the board of directors
• Not acting as key managerial personnel
• Not categorized as wilful defaulters or fugitive economic offenders by RBI guidelines

Commitment to Ongoing Conditions

Siemens Energy Holdco B.V. and Siemens Energy Holding B.V. undertook to comply with specific conditions post-reclassification. Failure to maintain these conditions could result in reversion to promoter status.

The entities affirmed their willingness to cooperate fully with Siemens Ltd, stock exchanges, and SEBI to facilitate the timely completion of the reclassification process.

The Supreme Court dismissed the GST department’s special leave petition against Siemens Limited on August 20, 2026, concluding long-standing litigation over a tax demand.

The apex court’s order effectively upholds the Gujarat High Court’s earlier decision to quash the show cause notice issued by the Joint Commissioner, Central GST & Excise, Vadodara I Commissionerate.

Litigation Background

The dispute originated from a show cause notice proposing a levy of ₹34.83 crore along with applicable interest and penalty under Section 74 of the Central Goods and Services Tax Act, 2017. The notice related to the transfer and assignment of the company’s leasehold interest in a property located in Halol, Gujarat.

Siemens Limited had initially disclosed receipt of this notice in September 2025. The Gujarat High Court subsequently quashed the notice, an update reported by the company in November 2025.

Resolution Details

Following the High Court’s ruling, the GST Department filed a Special Leave Petition (SLP) before the Supreme Court challenging the lower court’s order. The Supreme Court dismissed this petition, thereby concluding the legal proceedings in favor of Siemens Limited.

The company received the order around 3:30 pm on August 20, 2026. This resolution removes the potential financial liability associated with the disputed tax demand.