Grindwell Norton Limited has received a favorable outcome in its GST proceedings, with the Assistant Commissioner of Commercial Taxes, Bengaluru dropping the entire tax demand to nil. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI Listing Regulations.

Tax Demand Resolution Details

The favorable order pertains to proceedings that were initiated under multiple GST provisions. The tax authority had issued a show cause notice for a significant amount, which has now been completely waived off following the company's response.

Legal Framework and Proceedings

The original proceedings were initiated under Section 73 of the KGST Act, 2017 read with Rule 142 of the KGST Rules, 2017, along with Section 6 of the CGST Act, 2017 and Section 20 of the IGST Act, 2017. The company had previously informed stakeholders about this matter through an intimation dated January 28, 2026.

Following the company's reply to the show cause notice, the tax authority reviewed the case and issued the drop order, effectively closing the proceedings without any financial liability for the company.

Business Impact Assessment

The company has confirmed that this favorable tax order will have no material impact on its financial, operational, or other business activities. This outcome eliminates the potential financial liability that was under consideration and provides clarity on the company's tax position for the relevant period.

The resolution demonstrates the company's effective handling of regulatory matters and its ability to successfully defend its position before tax authorities. The complete waiver of the demand amount represents a positive development for the company's financial standing.

Grindwell Norton Limited has announced that it received an Environmental, Social and Governance (ESG) rating of 67 from CFC Finlease Private Limited for the financial year 2024-25. The company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ESG Rating Details

The company received email intimation from BSE Limited informing about CFC Finlease Private Limited's submission of the ESG disclosure. The rating assessment was conducted independently by CFC without any engagement from Grindwell Norton Limited.

Independent Assessment Process

Grindwell Norton Limited emphasized that it did not engage CFC Finlease Private Limited for obtaining an ESG rating. The ESG rating of 67 was assigned independently by CFC based on information pertaining to the company that is available in the public domain for FY 2024-25.

Regulatory Compliance and Disclosure

The disclosure has been made in compliance with SEBI regulations and is also available on the company's official website at www.grindwellnorton.co.in . The announcement was signed by Girish T. Shajani, Company Secretary with membership number A22547, and digitally authenticated on February 24, 2026.

This ESG rating disclosure represents part of the company's ongoing commitment to transparency and regulatory compliance in environmental, social, and governance matters.