Xelpmoc Design & Tech Limited has received a GST demand order worth ₹66.93 lakh from tax authorities in Karnataka, the company informed exchanges on December 30, 2025. The demand order was issued by the office of Assistant Commissioner of Commercial Taxes (Audit)-4.5, DGSTO-4, Bengaluru, Karnataka under Section 73 of CGST Act/KGST Act, 2017 read with Section 20 of IGST Act, 2017.

GST Demand Breakdown

The total demand order comprises multiple components as detailed by the company:

Nature of Alleged Violations

The demand order pertains to Financial Year 2021-22 and centers on two primary allegations. The tax officer has raised concerns regarding non-payment of GST on outward supplies due to incorrect classification of such supplies as zero-rated as per Section 2(6) of the IGST Act. Additionally, the order alleges short payment of taxes under the reverse charge mechanism (RCM) on inward supply of services under Section 9(3) of the CGST Act.

Company's Response and Impact Assessment

Xelpmoc Design and Tech Limited stated that it is currently evaluating the demand order and will pursue appropriate legal remedies based on advice from tax consultants. The company has assessed the financial impact to be limited to the extent of the amount involved in the order, which is ₹66.93 lakh.

The company emphasized that there is no impact on its operations or other business activities due to this demand order. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, ensuring transparency with stakeholders regarding this regulatory development.

Xelpmoc Design & Tech Ltd has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, detailing significant shareholding changes by its promoter group. The disclosure covers transactions executed between September 3, 2025, and December 24, 2025, involving multiple promoters and persons acting in concert.

Shareholding Changes Overview

The promoter group collectively disposed of 3,24,804 shares, representing 2.20% of the company's total share capital, through open market transactions. This resulted in a reduction of their combined shareholding from 51.93% to 49.73%.

Individual Promoter Holdings

The shareholding pattern shows varying changes among different promoters. Sandipan Chattopadhyay maintained his position as the largest individual shareholder, while others reduced their stakes significantly.

Transaction Pattern Analysis

The detailed annexure reveals systematic disposal patterns across the period. Bhavna Chattopadhyay executed the most frequent transactions with 19 separate disposal events, reducing her stake from 4,26,509 shares to 2,44,257 shares. The largest single-day disposal occurred on December 9, 2025, when she sold 42,724 shares.

Capital Structure

The company's equity share capital remains unchanged at ₹14,75,94,930, divided into 1,47,59,493 equity shares of ₹10 each. The total diluted share capital, assuming full conversion of outstanding convertible securities, stands at ₹15,10,59,560 divided into 1,51,05,956 equity shares.

All share disposals were executed through open market transactions on recognized stock exchanges. The disclosure indicates no encumbrance of shares through pledge, lien, or non-disposal undertakings. This disclosure was signed by Srinivas Koora on behalf of the acquirer/seller and persons acting in concert, dated December 26, 2025, from Hyderabad.