ISGEC Heavy Engineering Ltd has informed stock exchanges about a senior management change following the retirement of Mr. Suman Kumar Jain, effective December 29, 2025. The company made this disclosure to both BSE and NSE in accordance with regulatory requirements.

Senior Management Retirement Details

The company announced that Mr. Suman Kumar Jain will retire and cease to be part of the senior management personnel with effect from the closing hours on December 29, 2025. Mr. Jain was associated with the Air Pollution Control Equipment Business division of the company.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 and other applicable regulations, read with Para A of Part-A of Schedule III of the SEBI Listing Regulations. The company specifically noted that the requirement to disclose a resignation letter with detailed reasons is not applicable in this case, as it pertains to a retirement rather than a resignation.

The company also referenced compliance with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in providing the necessary particulars for the senior management change.

Communication and Disclosure

ISGEC Heavy Engineering has made this information available on its official website at www.isgec.com as part of its transparency and disclosure obligations. The formal communication was signed by Kalyan Ghosh, Compliance Officer of the company, with membership number A10790.

The company maintains its registered office at Radaur Road, Yamunanagar 135001, Haryana, India, and operates under CIN: L23423HR1933PLC000097.

Isgec Heavy Engineering Limited has received a penalty order from tax authorities under the Gujarat State GST Act, resulting in a total financial impact of ₹78.88 lakh. The company disclosed this development through a regulatory filing on December 16, pursuant to Regulation 30 of the SEBI Listing Regulations.

Penalty Details and Financial Impact

The State Tax Officer (1), Enforcement, Div-6, Vadodara imposed the penalty under the State GST Act for alleged violations related to Input Tax Credit claims. The company received the order on December 15, at 16:00:00 hours.

Nature of Alleged Violations

The State Tax Officer levied the tax demand alleging that the company claimed ineligible Input Tax Credit under Section 16(2) of the CGST Act. The specific allegations include:

• Claims from cancelled taxpayers
• Claims from non-genuine taxpayers
• Claims from non-existent taxpayers
• Claims from return defaulters

These violations relate to the company's GST compliance and input tax credit mechanisms, which are critical components of the goods and services tax framework.

Company's Response and Next Steps

Isgec Heavy Engineering has indicated that it will challenge the penalty order through the appropriate legal channels. The company stated in its disclosure that it "shall file an appeal under the Goods and Services Tax Act." This suggests the company disputes the allegations and believes it has grounds to contest the penalty.

The regulatory filing was made available on the company's website at www.isgec.com , ensuring transparency with stakeholders regarding this material development.

Regulatory Compliance

The disclosure was made under Regulation 30 read with Para A of Part A of Schedule III of the SEBI Listing Regulations, which requires listed companies to inform stock exchanges about material events that could impact their operations or financial position. The company filed this information with both BSE Limited and the National Stock Exchange of India Limited.