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.

JSW Paints Limited has successfully completed its acquisition of Akzo Nobel India Limited, with the target company officially filing promoter disclosure documents confirming the change in control. On December 12, 2025, AkzoNobel India Limited submitted the required disclosure under Regulation 7(1) of SEBI (Prohibition of Insider Trading) Regulations, 2015, to both BSE Limited and National Stock Exchange of India.

Acquisition Transaction Details

JSW Paints Limited acquired 2,76,70,295 equity shares of Akzo Nobel India Limited from the sellers on December 10, 2025. This acquisition was executed pursuant to a share purchase agreement dated June 27, 2025, between JSW Paints Limited and Imperial Chemical Industries Limited along with Akzo Nobel Coatings International B.V.

Final Shareholding Position

Following the completion of this acquisition, combined with the 2,01,428 equity shares acquired under the open offer on November 12, 2025, JSW Paints now holds a total of 2,78,71,723 equity shares. This represents 61.20% of the total voting capital of Akzo Nobel India Limited, officially making JSW Paints the promoter of the company.

Regulatory Compliance and Documentation

AkzoNobel India Limited, through Company Secretary Rajiv L Jha, submitted the promoter disclosure in Form A to both stock exchanges where the company's shares are listed under scrip code 500710 and symbol AKZOINDIA. The disclosure confirms that JSW Paints Limited has become the promoter following the acquisition of 2,78,71,723 equity shares on December 10, 2025.

JSW Paints Limited had earlier filed a rectified disclosure under SEBI regulations on December 12, 2025, correcting technical errors in its original filing related to the substantial acquisition. The company, through Company Secretary Nishant Salvi, ensured proper regulatory compliance by promptly filing the corrected version.

Strategic Industry Consolidation

This acquisition represents a significant consolidation move in the Indian paints industry, with JSW Paints expanding its market presence through this controlling stake acquisition valued at approximately ₹894 crores. The transaction positions JSW Paints as the controlling entity of Akzo Nobel India, an established player in the paints and varnish sector, marking a major strategic expansion for the acquirer in the competitive Indian paints market.