Voltas Receives ₹20.07 Lakhs Penalty Order from Deputy Commissioner of State Tax, Surat Over E-Way Bill Discrepancy

Voltas Limited, a Tata Enterprise, has received a penalty order of ₹20.07 Lakhs from the Office of the Deputy Commissioner of State Tax, Enforcement, Division-7, Surat, Gujarat. The order was received on 12 May 2026 at 9.51 a.m. and was passed under Section 129(1)(a) of the Gujarat Goods and Services Tax Act, 2017, read with relevant provisions of the Central Goods and Services Tax Act, 2017, the Integrated Goods and Services Tax Act, 2017, and the Goods and Services (Compensation To States) Act, 2017. The penalty pertains to an incorrect declaration of vehicle type in an E-Way Bill.

Details of the Penalty Order

The company disclosed the penalty pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The following table summarises the key details of the order as disclosed in the regulatory filing:

Parameter:	Details
Name of Authority:	Office of the Deputy Commissioner of State Tax, Enforcement, Division-7, Surat, Gujarat
Order Date:	12 May 2026
Date of Receipt:	12 May 2026 at 9.51 a.m.
Penalty Amount:	₹20,07,000/-
Legal Provision:	Section 129(1)(a) of the Gujarat Goods and Services Tax Act, 2017 read with relevant provisions of CGST Act, 2017, IGST Act, 2017, and GST (Compensation To States) Act, 2017
Nature of Violation:	Incorrect declaration of vehicle type in the E-Way Bill
Financial Impact:	No material impact on financials, operations, or other activities

Company's Response and Financial Impact

Voltas has stated that it is in the process of filing an appeal against the said order. The company has also confirmed that the penalty carries no material impact on its financials, operations, or other activities. The disclosure was made in accordance with applicable SEBI Listing Regulations and the relevant SEBI Circular, with the filing signed by Ratnesh Rukhariyar, Company Secretary & Compliance Officer.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.84%	-8.50%	-4.31%	-5.88%	-0.54%	+29.52%

Voltas , the Tata Group company, has received a favourable ruling from the Court of Appeal (Qatar) in a long-standing legal dispute involving its joint venture with OHL International, Spain, and Contrack (Cyprus) Limited. The English translation of the judgement, dated 4th May 2026, was received by the company on 9th May 2026, and the disclosure was filed on 11th May 2026, the first working day following receipt.

Background of the Dispute

The litigation pertains to claims and counterclaims filed by Voltas and the Joint Venture of OHL International, Spain, and Contrack (Cyprus) Limited, and Others, before the First Commercial Appellate Circuit, referred to as the Court of Appeal (Qatar). The matter had been the subject of earlier regulatory disclosures by the company, filed on 14th August 2023, 1st October 2024, and 6th February 2025.

Key Outcomes of the Judgement

The Court of Appeal (Qatar) has ruled in favour of Voltas and the Kentz Voltas Consortium (KVC). Notably, OHL International and Contrack (Cyprus) Limited have been ordered to pay a combined total of QAR 203.62 million to the Kentz Voltas Consortium, comprising an outstanding subcontract payment and compensation. The following table summarises the key directives issued under the judgement:

Parameter:	Details
Outstanding Subcontract Payment:	OHL&C to pay QAR 163.62 million (₹425.58 crores approx.) to KVC
Compensation Awarded:	OHL&C to pay QAR 40 million (₹104.04 crores approx.) to KVC
Bank Guarantees to be Returned:	QAR 166.72 million (₹433.64 crores approx.) to be returned to Voltas within 10 days from the date of judgement
Counterclaims by OHL&C:	Dismissed
Financial Implication on Voltas:	No negative implication on the Company
Claims on Voltas:	No claim on the Company

Company's Next Steps

Voltas has filed an application for execution of the aforesaid order and has stated that it will monitor further progress on the matter. The company has committed to providing updates in the event of any material developments.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III and the relevant SEBI Circular. The filing was signed by Ratnesh Rukhariyar, Company Secretary and Compliance Officer of Voltas Limited.