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.

AkzoNobel India Limited has disclosed a significant promoter exit through an insider trading disclosure filed under SEBI regulations. The transaction marks a complete divestment by one of the company's erstwhile promoters.

Major Promoter Exit Transaction

AkzoNobel Coatings International B.V., previously classified as a promoter and member of the promoter group, has sold its entire equity stake in the company. The transaction details are presented below:

Payment Structure and Terms

The sale transaction has been structured with a bifurcated payment mechanism:

The deferred consideration component will be paid according to terms specified in the share purchase agreement, subject to contingent conditions.

Regulatory Compliance and Disclosure

The transaction has been disclosed in compliance with Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015. AkzoNobel India Limited filed the mandatory disclosure with both BSE Limited (Scrip Code: 500710) and National Stock Exchange of India Ltd. (Symbol: AKZOINDIA) on December 12, 2025.

Following the completion of this transaction, AkzoNobel Coatings International B.V. has been declassified as a promoter pursuant to Regulation 31A of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Seller Profile

AkzoNobel Coatings International B.V. is a Netherlands-based entity with registration number 09078208, headquartered at Christian Neefestraat 2, 1077, WW Amsterdam. The entity held 24.30% equity stake in AkzoNobel India Limited prior to this complete divestment.

The disclosure was signed by designated officials including Kewny Chae (Managing Director Treasury CFE) and L. Suurenbroek (Director Legal Corporate), representing AkzoNobel Coatings International B.V. in this transaction.