CE Info Systems Limited, operating under the MapmyIndia brand, has disclosed receiving a significant GST demand order from tax authorities. The company informed stock exchanges about the regulatory action taken by the Central Goods and Service Tax Department.

GST Demand Details

The Delhi South Commissionerate has issued a comprehensive demand order targeting the company's Input Tax Credit claims. The financial implications of this order are substantial:

The demand specifically pertains to Input Tax Credit availed on IPO-related expenses incurred during FY2021-22, in connection with the company's listing pursuant to an Offer for Sale (OFS).

Company's Response and Legal Position

CE Info Systems has expressed confidence in its legal standing regarding this matter. The company maintains that it has strong legal and factual grounds to contest the findings of the adjudicating authority. Management believes the company has duly discharged its applicable GST liabilities in accordance with the law, characterizing the matter as primarily involving issues of legal interpretation.

Operational Impact Assessment

The company has clarified that there is no immediate impact on its financial, operational, or other activities. This assessment suggests that the demand order, while significant in monetary terms, does not affect the company's day-to-day operations or immediate financial position.

Next Steps and Appeal Process

CE Info Systems plans to challenge the order through proper legal channels. The company will file an appeal before the appellate authority within the prescribed timelines. The order is not final and remains appealable under the provisions of the Central Goods and Services Tax Act, 2017.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulatory filing demonstrates the company's commitment to maintaining transparency with stakeholders regarding material developments.

C.E. Info Systems Limited , better known as MapMyIndia, has issued a postal ballot notice seeking shareholder approval for three key resolutions related to its Employee Stock Option Plan (ESOP) 2008. The company aims to modify termination clauses and extend benefits to employees of subsidiary and associate companies.

Key Points of the Proposal

1. Modification of ESOP 2008: The company proposes to amend the existing ESOP 2008, particularly focusing on termination clauses.

2. Extension of Benefits: The plan seeks to extend stock option benefits to eligible employees of subsidiary and associate companies.

3. Ratification of ESOP 2008: The company is also seeking ratification of the ESOP 2008 to comply with SEBI regulations.

Voting Details

• E-voting Period: December 5, 2025 to January 3, 2026
• Total Options: The plan covers 1,06,947 stock options for eligible employees

Financial Context

To provide context for this corporate action, let's look at some key financial metrics from MapMyIndia's balance sheet:

The company's financial position, with growing assets and investments, suggests that the ESOP modifications may be part of a strategy to attract and retain talent in a competitive market.

Implications for Shareholders

1. Dilution Effect: The issuance of new shares under the ESOP may lead to a slight dilution of existing shareholdings.

2. Talent Retention: The modified ESOP could help C.E. Info Systems attract and retain key talent, potentially driving long-term value creation.

3. Subsidiary Performance: Extending the ESOP to subsidiary employees may align interests across the group, potentially improving overall performance.

Shareholders should carefully review the postal ballot notice and consider how these changes might impact the company's long-term growth strategy and their own investment thesis before casting their votes.

As C.E. Info Systems continues to evolve in the digital mapping and geospatial services sector, these ESOP modifications could play a role in shaping its human capital strategy for the coming years.