AkzoNobel India Limited has received a GST order from the Kerala GST Department on December 15, 2025, following a show cause notice issued earlier in September 2025. The company disclosed this development under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

GST Order Details

The Assistant Commissioner, Kochi, Kerala GST Department issued an order dated December 12, 2025, which was received by the company on December 15, 2025. The order pertains to the disallowance of Input Tax Credit (ITC) under section 73 of the CGST/SGST Act, 2017, for the period from April 2021 to March 2022.

Background and Company Response

The company had initially received a show cause notice from the Kerala GST Department on September 26, 2025, with a higher demand amount. The original notice carried a demand of ₹32,42,892, comprising tax amount of ₹32,42,892 along with applicable interest and penalty.

Following the show cause notice, AkzoNobel India submitted its response along with supporting documents within the given time limit. The GST authorities reviewed the company's reply, which resulted in a reduced demand amount in the final order.

Next Steps

The order remains open for further submissions before the relevant authorities. The company has indicated that it is in the process of responding to the order within the stipulated time as mentioned in the GST order. This suggests that AkzoNobel India intends to contest or seek clarification on the demand raised by the Kerala GST Department.

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by providing an update on the pending litigation. This follows the earlier disclosure made on September 26, 2025, when the initial show cause notice was received. The disclosure ensures transparency for investors regarding ongoing regulatory proceedings that may impact the company's financial position.

Akzo Nobel India Limited has witnessed significant promoter exits through multiple transactions disclosed under SEBI regulations. The company has seen two separate promoter entities divesting their stakes, marking substantial changes in its shareholding structure.

Recent Block Deal Transaction

Imperial Chemical Industries Limited, one of the promoters of Akzo Nobel India Limited, has sold a substantial equity stake through a block deal transaction on the National Stock Exchange of India Limited. The transaction details are outlined below:

The disclosure was filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, indicating a complete exit by Imperial Chemical Industries Limited from its promoter position.

Earlier Promoter Exit Transaction

Prior to this transaction, AkzoNobel Coatings International B.V., another promoter entity, had also completed its divestment from the company:

Regulatory Compliance and Corporate Structure

Both transactions have been disclosed in compliance with SEBI regulations. The company's equity share capital stands at 4,55,40,314 shares. Imperial Chemical Industries Limited's disclosure was signed by designated officials including Okke L. Suurenbroek (Director Legal Corporate) and Kevin Choe, representing the selling entity.

Following these transactions, both AkzoNobel Coatings International B.V. and Imperial Chemical Industries Limited have been declassified as promoters pursuant to relevant SEBI regulations.

Transaction Impact

These promoter exits represent a combined divestment of 33.30% equity stake in Akzo Nobel India Limited, indicating significant changes in the company's ownership structure. The transactions demonstrate the ongoing restructuring activities within the AkzoNobel group's Indian operations.