Nestle India Limited , a prominent player in the Indian food and beverage industry, has received a significant GST order from the Office of the Commissioner of GST and Central Excise, Chennai. The order, which covers the tax period from 2018 to 2023, demands a substantial sum from the company.

GST Order Details

The order received by Nestle India includes the following key components:

In addition to the above amounts, the order also includes applicable interest, which is yet to be quantified.

Company's Response

Nestle India has stated that the GST order does not have a material impact on its financials or operations. This suggests that the company is well-prepared to handle such regulatory challenges without significant disruption to its business activities.

Next Steps

The company has indicated that it will explore various options to challenge the order. This approach is common in such cases, where companies often seek legal recourse or engage in discussions with tax authorities to resolve disputes.

Investor Implications

While the GST demand is substantial, Nestle India's statement regarding the lack of material impact on its financials should provide some reassurance to investors. However, stakeholders should keep an eye on further developments, as the resolution of this matter could have implications for the company's financial statements in the future.

Regulatory Compliance

It's worth noting that Nestle India has promptly disclosed this information in compliance with Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency is crucial for maintaining investor trust and adhering to regulatory standards.

As this situation unfolds, investors and market watchers will likely monitor how Nestle India navigates this regulatory challenge and its potential impact on the company's financial position in the long term.

Nestle India , a leading player in the Indian food and beverage industry, has announced a significant change to its board of directors. The company's Board has approved the appointment of Mandeep Chhatwal as an Additional Director (Non-Executive) effective January 1, 2026, subject to shareholder approval.

Key Appointment Details

Professional Background

Mandeep Chhatwal brings a wealth of experience to Nestle India's board. Here are some highlights of his career:

• Over 30 years of experience in the finance sector
• Currently serves as Chief Financial Officer (CFO) for Zone Asia, Oceania & Africa (AOA) at Nestle's global headquarters in Vevey, Switzerland
• Previous roles at Nestle include:
  • CFO of Nestle Sri Lanka
  • Global Head of Financial Services
  • Head of Corporate Finance & Deputy Treasurer
  • CFO of Nestle Philippines

Nestle India Connection

Chhatwal's appointment marks a return to Nestle India, where he began his career in 1989. During his initial tenure from 1989 to 2004, he developed his financial capabilities across both factory and sales operations before transitioning to other markets within the Nestle Group.

Current Responsibilities

In his current role, which he has held since 2021, Chhatwal oversees the finance function across 112 countries. His responsibilities include:

• Spearheading strategy
• Managing performance
• Overseeing financial governance in one of the Group's most diverse regions

Educational Background

Chhatwal holds a Master's degree in Business Administration from IIM Ahmedabad, further solidifying his credentials for this new role.

Board Dynamics

The appointment was made on the recommendation of Nestle India's Nomination and Remuneration Committee. Chhatwal is not related to any existing director of the company, ensuring an independent perspective on the board.

This strategic appointment aligns with Nestle India's commitment to strengthening its leadership team with experienced professionals. Chhatwal's extensive background in finance and his global experience within the Nestle Group are expected to bring valuable insights to Nestle India's board as the company continues to navigate the dynamic Indian market.