BSECompany Update28 Sept 2026 · 28 Sept 2026, 06:15 pm
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Eureka Forbes Ltd · 543482
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Eureka Forbes Ltd has received a Show Cause Notice (SCN) from the Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh, under Section 73(1) of the Uttar Pradesh Goods and Services Tax Act, 2017, for the financial year 2022-23, alleging a tax liability of Rs. 149.21 Crore along with interest of Rs.109.27 Crore and penalty of Rs. 14.92 Crore aggregating to Rs. 273.40 Crore. The company intends to contest the SCN comprehensively within the prescribed timelines and does not foresee any material impact on its financials, operations, or other activities.
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Eureka Forbes Ltd - 543482 - Intimation Under Regulation 30 Of SEBI Listing Regulations - Receipt Of Show Cause Notice
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September 28, 2026
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block - G,
Dalal Street, Bandra Kurla Complex,
Mumbai – 400 001 Bandra (East), Mumbai – 400 051
Scrip Code: 543482
Scrip ID: EUREKAFORB Symbol: EUREKAFORB
Ref.: EFL/BSE/2026-27/40 Ref.: EFL/NSE/2026-27/40
Subject: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 (“SEBI Listing Regulations”) – Receipt of Show
Cause Notice from GST Authority
Dear Sir / Ma’am,
Pursuant to Regulation 30 read with Para B of Part A of Schedule III of the SEBI Listing Regulations,
this is to inform that the Company is in receipt of Show Cause Notice (“SCN”) dated September 25,
2026 issued under Section 73(1) of Uttar Pradesh Goods and Services Tax Act, 2017 from the office of
Deputy Commissioner, State Tax, Sector-1, Lucknow, Uttar Pradesh for the financial year 2022-23.
The Company is of the considered view that the SCN is devoid of merits, not sustainable on facts or in
law or in procedure and intends to contest the same comprehensively within the prescribed timelines.
The Company does not envisage any material impact on the financials, operations or other activities of
the Company arising from this SCN.
The information required in terms of Regulation 30 read with Clause 8 of Para B of Part A of Schedule
III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-
POD2/I/3762/2026 dated January 30, 2026 and Industry Standards on Regulation 30 of the SEBI Listing
Regulations are enclosed as ‘Annexure-I’.
The Notice was received after office hours on Friday, September 25, 2026, and following a review of
the SCN and the Company’s compliance obligations, the disclosure is being made today, September 28,
2026, being the first working day following receipt.
Kindly take the same on record.
Thanking you,
Yours Truly,
For Eureka Forbes Limited
Shilpa Jain
Company Secretary & Compliance Officer
Encl.: As above
Annexure – 1
Particulars Details
1 Type of communication received Receipt of a Show Cause Notice ("SCN") in
Form GST DRC-01 under Section 73(1) of
Uttar Pradesh Goods and Services Tax Act,
2017 for the Financial Year 2022-23.
2 Date of receipt of communication September 25, 2026
3 Name of the Authority Deputy Commissioner, State Tax, Sector-1,
Lucknow, Uttar Pradesh
4 Brief details of dispute / litigation viz. name(s) SCN alleging Tax liability of Rs. 149.21
of the opposing party, court/ tribunal/agency Crore along with interest of Rs.109.27 Crore
where litigation is filed, brief details of and penalty of Rs. 14.92 Crore aggregating to
dispute/litigation Rs. 273.40 Crore.
The Company has noted that the proposed
demand appears to have been computed, inter
alia, with reference to pan India level
financial information taken from the signed
financials for FY 2022-23 without
establishing the corresponding transaction
level liability attributable to the Company's
Uttar Pradesh GST registration.
5 Expected financial implications, if any, due to The Company is of the considered view that
compensation, penalty etc. the SCN is devoid of merits, not sustainable
on facts or in law or in procedure & intends to
contest the same comprehensively within the
prescribed timelines.
The Company does not envisage any material
impact on the financials, operations or other
activities of the Company arising from this
SCN.
6 Quantum of claims, if any As prescribed in Sr. No. 4 above