Shree Cement Limited has informed stock exchanges about receiving an investigation order from the Ministry of Corporate Affairs (MCA) under Section 210(1)(c) of the Companies Act, 2013. The company disclosed this development through a regulatory filing dated January 2nd, 2026, in compliance with SEBI listing regulations.

Investigation Details

The cement manufacturer received communication from the Office of the Regional Director, North-Western Region, Ministry of Corporate Affairs, Ahmedabad on January 1st, 2026. The following table outlines the key details of the investigation:

Company's Response and Clarifications

Shree Cement has clarified that no specific violations or contraventions have been alleged against the company. The Regional Director has only sought certain information from the company, which will be provided in due course. The company emphasized that this is purely an information-seeking exercise by the regulatory authority.

Financial and Operational Impact

The company has assessed that there will be no impact on its financial position, business operations, or other activities since only information is being sought from the company. The following impact assessment was provided:

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also complied with SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11th, 2024, providing detailed information in the prescribed format through Annexure-A.

The company secretary S.S. Khandelwal signed the disclosure document digitally, ensuring proper documentation and compliance with regulatory requirements. Shree Cement has committed to cooperating with the authorities and providing the requested information within the stipulated timeframe.

Shree Cement Limited has received GST demand orders from tax authorities in Chhattisgarh and Karnataka, with the company disclosing the development to stock exchanges on December 31, 2025. The cement manufacturer received both orders on December 30, 2025, relating to alleged Input Tax Credit violations.

GST Demand Orders Details

The company received two separate demand orders from different tax authorities across two states. The details of both orders are outlined below:

Company's Response and Financial Impact

Shree Cement has indicated that both orders will have no major financial impact on the company's operations. The management has disagreed with the contentions raised by the tax authorities in both cases. The company plans to challenge these orders through the appropriate legal channels.

Appeal Process

The company has outlined its appeal strategy for both orders:

• Chhattisgarh Case: Appeal under Section 107 of Chhattisgarh GST Act to be filed by March 29, 2026
• Karnataka Case: Appeal under Section 107 of Karnataka GST Act to be filed by March 29, 2026
• Timeline: Both appeals must be filed within 3 months from the date of communication of the respective orders

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed companies to inform stock exchanges about material events that could impact the company's operations or financial position. The company secretary S.S. Khandelwal signed the disclosure document, ensuring compliance with regulatory requirements.

The cement manufacturer's proactive disclosure demonstrates its commitment to transparency with stakeholders regarding regulatory matters, even as it prepares to contest the tax authorities' demands through the established appeal process.