Star Health faces ₹75.28 cr GST penalty from UP for excess ITC claims

Star Health and Allied Insurance Company Limited has received a significant GST penalty order from Uttar Pradesh tax authorities, as disclosed in a regulatory filing. The company received the penalty order on December 26, imposing a substantial financial liability under goods and services tax regulations.

GST Penalty Details

The penalty order details reveal the scope and nature of the tax authority's action against the insurance company:

Parameter	Details
Penalty Amount	₹75.28 crores
Authority	Office of the Joint Commissioner of State Goods & Service Tax, Uttar Pradesh
Applicable Period	April 2021 to March 2022
Legal Provision	Section 73 of the Central Goods and Services Tax Act, 2017

Nature of Violations

The GST penalty has been levied due to specific compliance issues identified by the tax authorities. The penalty stems from excess Input Tax Credit (ITC) claimed by the company during the specified period. These violations constitute contraventions of Section 73 provisions under the Central Goods and Services Tax Act, 2017.

Company's Response and Legal Strategy

Star Health and Allied Insurance has outlined its response strategy following receipt of the penalty order. The company plans to file an appeal against the order with the appropriate authorities.

Regulatory Compliance

The disclosure was made in compliance with regulatory requirements, ensuring transparency with all stakeholders.

The company's leadership has confirmed that all information provided in the regulatory disclosure is true, correct, and complete to the best of their knowledge and belief.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.39%	-1.13%	-6.75%	+7.64%	-5.35%	-49.83%

Star Health Insurance and Allied Insurance Company Limited has successfully concluded its postal ballot process with overwhelming shareholder support for the proposed resolution. The company announced the results on December 22, 2025, following a comprehensive e-voting process conducted in compliance with regulatory requirements.

Postal Ballot Resolution Details

The postal ballot sought shareholder approval for a special resolution regarding remuneration payable to Mr. Rajiv Kher (DIN: 01192524), Non-Executive Independent Director and Chairperson of the Board for the financial year 2024-25. As a special resolution, it required votes cast in favor to be not less than three times the number of votes cast against the resolution.

Parameter:	Details
Resolution Type:	Special Resolution
Director Name:	Mr. Rajiv Kher
Director Identification Number:	01192524
Position:	Non-Executive Independent Director and Chairperson
Financial Year:	2024-25

Detailed Voting Results and Shareholder Participation

The postal ballot results demonstrated exceptional shareholder confidence in the company's governance decisions. Out of 195,891 total shareholders on the record date of November 14, 2025, significant participation was recorded across different shareholder categories.

Shareholder Category:	Votes Polled	Votes in Favour	Votes Against	% in Favour
Promoter and Promoter Group:	341,150,930	341,150,930	0	100.00%
Public Institutions:	194,842,250	194,842,250	0	100.00%
Public Non-Institutions:	523,447,659	523,426,558	21,101	99.96%
Grand Total:	1,059,440,839	1,059,419,738	21,101	99.99%

The overall voting outcome showed 75.94% of outstanding shares participated in the e-voting process, with 99.99% votes in favor and only 0.00% against the resolution.

E-Voting Process and Timeline

The company conducted the postal ballot exclusively through electronic voting in accordance with various MCA circulars and regulatory guidelines. The process was managed with strict adherence to statutory requirements and transparency standards.

Key timeline details include:

Notice Dispatch: November 19, 2025 to all eligible members
Record Date: November 14, 2025 for determining voting eligibility
Advertisement: Published in Business Standard and Dinamani newspapers on November 20, 2025
E-Voting Period: November 21, 2025 (10:00 AM) to December 20, 2025 (5:00 PM)
Results Declaration: December 22, 2025

Regulatory Compliance and Scrutinizer Report

Mr. Mirza Ismail Irshad Ahmed, Practicing Company Secretary of Irshad and Associates, served as the appointed scrutinizer for the postal ballot process. The scrutinizer's report confirmed compliance with Section 108 and 110 of the Companies Act 2013, along with relevant rules under the Companies (Management and Administration) Rules, 2014.

The e-voting facility was provided by KFin Technologies Limited, ensuring secure and transparent voting process. The company has fulfilled its disclosure obligations under Regulation 44(3) of the SEBI Listing Regulations, with detailed voting results communicated to both BSE and NSE.

Corporate Governance and Transparency

The postal ballot process reflects Star Health and Allied Insurance Company's commitment to corporate governance and shareholder participation. The overwhelming support across all shareholder categories demonstrates strong confidence in the board's remuneration decisions and governance practices.

The scrutinizer's report and voting results have been made available on the company's website at www.starhealth.in , ensuring transparency and accessibility for all stakeholders. The electronic data and e-voting registers remain in safe custody until the chairperson considers and approves the postal ballot results.