Akzo Nobel has announced a significant leadership change with the appointment of Rajiv Rajgopal as Joint Managing Director and Chief Executive Officer. This key executive appointment marks an important development in the company's leadership structure.

Leadership Appointment Details

The appointment of Rajiv Rajgopal to the dual role of Joint Managing Director and CEO represents a strategic move by Akzo Nobel to strengthen its executive leadership. This leadership transition is expected to bring fresh perspectives and enhanced strategic direction to the organization.

Strategic Implications

The new appointment reflects the company's focus on building a robust leadership team capable of navigating the evolving business landscape. With Rajgopal assuming these critical responsibilities, the company is positioning itself for continued growth and operational excellence.

This leadership change demonstrates Akzo Nobel's commitment to maintaining strong governance and strategic oversight through experienced executive leadership. The dual role structure is designed to ensure effective management and strategic execution across the organization's operations.

Akzo Nobel India Limited has received a significant GST demand order from the Maharashtra GST Department, marking an escalation in an ongoing tax dispute that originated in mid-2025. The company disclosed this development through a regulatory filing on January 8, 2026, providing stakeholders with updated details on the pending litigation.

GST Demand Details

The Maharashtra GST Department's order, dated December 23, 2025, and received by the company on January 7, 2026, contains the following financial implications:

The dispute centers around allegations of issuing duplicate e-way bills against the same invoice during the period from April 2018 to March 2019, falling under sections 74 of the CGST/SGST Act, 2017.

Timeline of Events

The litigation process began when the company received a show cause notice from the Maharashtra GST Department on July 1, 2025. The original notice contained a smaller demand of ₹2,25,604, comprising only the tax component with applicable interest and penalty.

Following the show cause notice, Akzo Nobel India responded with supporting documents within the prescribed time limit. However, after reviewing the company's response, the Superintendent of Division-Belapur, Mumbai, Maharashtra GST (ISD) Department issued the current order, effectively doubling the financial exposure by adding a penalty amount equal to the tax demand.

Company's Response Strategy

The company has indicated that the order remains open for further submissions to the relevant authorities. Akzo Nobel India is currently in the process of reviewing the order and has committed to responding within the timeframe specified by the GST department.

The regulatory filing confirms that this litigation does not involve any key management personnel, promoters, or ultimate persons in control of the company, limiting the scope to operational tax compliance matters.

Regulatory Compliance

This update was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with SEBI circular SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023. The disclosure follows the company's initial announcement of the pending litigation on July 2, 2025, demonstrating adherence to continuous disclosure requirements for material developments.