Intimation of Assessment Order received by the Company on March 29, 2024 under Section 271 (1) (c) of Income Tax, Act 1961 levying penalty of Rs. 4.84 Lakhs on disallowance of certain expenditures and disallowance of loss on sale of asset. \r\n\r\nThe management does not reasonably expect the said Order to have any material impact on financials, operations, or other activities of the Company.\r\n\r\nBasis applicable law, the Company is in process of filing appeal as allowed in the said order with the prescribed timelines. \r\n