AI assistant
KPIT Technologies Ltd — Legal Proceedings Report 2023
Nov 29, 2023
59234_rns_2023-11-29_f99133ad-22de-4cda-bac6-f6e3a8fe5cde.pdf
Legal Proceedings Report
Open in viewerOpens in your device viewer
==> picture [563 x 92] intentionally omitted <==
November 29, 2023
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001.
Scrip ID: KPITTECH Scrip Code: 542651
Kind Attn: The Manager, Department of Corporate Services
National Stock Exchange of India Ltd., Exchange Plaza, C/1, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai – 400051. Symbol: KPITTECH Series: EQ Kind Attn: The Manager, Listing Department
- Sub: Disclosure under Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”)
Dear Sir / Madam,
The details pursuant to Schedule III under Regulation 30 of the Listing Regulations read with SEBI Circular dated July 13, 2023, are as below:
| Particulars | Details |
|---|---|
| Name of the authority | Income Tax Department |
| Nature and details of theaction(s) taken, initiated ororder(s) passed | Draft order u/s 144 C (1) of the Income-Tax Act, 1961 makingTransfer Pricing adjustment to the tune of Rs. 5,68,47,969/-for A.Y. 2021-22 to the income of PathPartner TechnologyPrivate Limited (“PathPartner”), a subsidiary of theCompany. |
| Date of receipt of direction ororder, including any ad-interimor interim orders, or any othercommunicationfromtheauthority | PathPartner has received the draft order on November 28,2023 |
| Details of the violation(s)/contravention(s) committed oralleged to be committed | A draft order u/s 144 C (1) of the Income-Tax Act, 1961 wasreceived by PathPartner making Transfer Pricing adjustmentto the tune of Rs. 5,68,47,969/- for A.Y. 2021-22 to itsincome. |
| Impact on financial, operationor other activities of the listedentity,quantifiableinmonetary terms to the extentpossible | PathPartner will file its objections before the DisputeResolution Panel within due course of time.The Company feels, there may not be any impact onfinancial, operation or other activities of the Company dueto this draft Assessment Order. |
Kindly take the same on your records.
Thanking you.
Yours faithfully, For KPIT Technologies Limited
DESHPANDE Digitally signed by DESHPANDE NIDA YUNUS NIDA YUNUS Date: 2023.11.29 18:59:12 +05'30'
Nida Deshpande Company Secretary & Compliance Officer
KPIT Technologies Limited
Registered & Corporate Office: Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. CIN: L74999PN2018PLC174192
O +91 20 6770 6000 E [email protected] W kpit.com