EMMVEE : RECEIPT OF SHOW CAUSE NOTICE FROM KARNATAKA STATE GST DEPARTMENT

• Emmvee Energy Private Limited, material subsidiary, received a Show Cause Notice from Karnataka State GST Department alleging excess availment of Input Tax Credit for FY 2022-23. • The notice proposes tax demand of ₹20,39,04,267 with interest and penalty aggregating to ₹38,44,79,651. • The Company believes allegations are not sustainable as it availed eligible Input Tax Credit of ₹11,51,16,900 per GST provisions. • The Company is filing an appropriate response and does not expect any material financial impact.

Emmvee Photovoltaic Power Limited

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