Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor,
R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011
Tel: (022) 3001 6600 Fax: (022) 3001 6601
CIN No. : L17100MH1905PLC000200
Date: May 27, 2024 | |
To, | |
BSE Limited. | National Stock Exchange of India Limited. |
Phiroze Jeejeebhoy Towers, | "Exchange Plaza", Bandra Kurla Complex, |
Dalal Street, Fort, Mumbai - 400001 | Bandra (E),Mumbai - 400051 |
(Security code: 503100) | (Symbol: PHOENIXLTD) |
Dear Sir/Madam, |
Sub: - Intimation under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Pursuant to Regulation 30(6) read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("Listing Regulations"), we wish to inform you that subsidiary of the Company viz. Alliance Spaces Private Limited ("ASPL") has received show cause notice, from the GST authorities for payment of tax liability along with the applicable interest and penalty for the tax period April 2019 to March 2020.
ASPL shall be representing the matter in the personal hearing before the GST authorities and intend to contest the matter at an appropriate forum.
The details of the above notice as required under Clause 20 of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 are given in Annexure A to this letter.
The aforesaid information is also being uploaded on the Company's website at https://www.thephoenixmills.com/investors/FY2025/Exchange-Intimations.
We request you to take the above information on record.
Thanking You,
Yours Faithfully,
For The Phoenix Mills Limited
GAJENDRA Digitally signed by
GAJENDRA MEWARA
MEWARA Date: 2024.05.27 17:52:53 +05'30'
______________________
Gajendra Mewara
Company Secretary
Membership No. A22941
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor,
R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011
Tel: (022) 3001 6600 Fax: (022) 3001 6601
CIN No. : L17100MH1905PLC000200
Annexure A | ||||||||||||||
Sr. | Details of Events that | |||||||||||||
No. | need to be provided | Information of such events(s) | ||||||||||||
a) | Name of the authority | Deputy Commissioner of State Tax | ||||||||||||
Department of Goods and Service Tax (Govt. of Maharashtra) | ||||||||||||||
b) | Nature and details of | Receipt of the show cause notice under Section 73 of CGST/MGST Act from | ||||||||||||
the action(s) taken, | GST authorities instructing Alliance Spaces Private Limited ('ASPL') to pay the | |||||||||||||
initiated or order(s) | amount of tax as ascertained below along with amount of interest and penalty | |||||||||||||
passed | for the period April 2019 to March 2020. | |||||||||||||
Act | Tax | Interest | Penalty | Total | ||||||||||
Amount in | Amount in | Amount in | Amount in | |||||||||||
Rs. | Rs. | Rs. | Rs. | |||||||||||
CGST | 3,51,84,910 | 3,27,21,966 | 35,18,491 | 7,14,25,367 | ||||||||||
SGST | 3,51,84,910 | 3,27,21,966 | 35,18,491 | 7,14,25,367 | ||||||||||
Total | 7,03,69,820 | 6,54,43,932 | 70,36,982 | 14,28,50,734 | ||||||||||
c) | Date of | receipt | of | Notice dated May 27, 2024, was received by way of an email intimation at 12.45 | ||||||||||
direction | or | order, | p.m. (IST). | |||||||||||
including | any | ad- | ||||||||||||
interim | or | interim | ||||||||||||
orders, | or | any | other | |||||||||||
communication | from | |||||||||||||
the authority | ||||||||||||||
d) | Details | of | the | The grounds and qualification as stated by authorities is as follows: | ||||||||||
violation(s)/contravent | ||||||||||||||
ion(s) | committed | or | ∙ ITC denied with respect to RC cancelled dealers and ineligible ITC as | |||||||||||
alleged | to | be | per section 17(5) of CGST / SGST Act | |||||||||||
committed. | ∙ GST leviable on various expenses as per the profit & loss account | |||||||||||||
∙ GST on Sale of fixed assets | ||||||||||||||
∙ GST on trade payables, etc | ||||||||||||||
e) | Impact | on | financial, | There is no material impact on the financial position or operation of the | ||||||||||
operation | or | other | Company due to the said tax liability and penalty. The impact is limited to the | |||||||||||
activities of | the | listed | extent of tax liability as ascertained along with interest and penalty as aforesaid | |||||||||||
entity, | quantifiable | in | on the subsidiary of the Company. | |||||||||||
monetary terms to the | ||||||||||||||
extent possible. |
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The Phoenix Mills Limited published this content on 28 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 May 2024 10:42:08 UTC.