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KPIT Technologies Ltd — Regulatory Filings 2024
May 20, 2024
59234_rns_2024-05-20_cde7d63b-9070-482a-89d8-82cc6ef61b34.pdf
Regulatory Filings
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May 20, 2024
BSE Limited National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, G Block, Dalal Street, Bandra - Kurla Complex, Bandra (E), Mumbai - 400001. Mumbai – 400051. Scrip ID: KPITTECH Symbol: KPITTECH Scrip Code: 542651 Series: EQ Kind Attn: The Manager, Kind Attn: The Manager, Department of Corporate Services Listing Department Dear Sir / Madam,
Sub: Disclosure under Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“the Listing Regulations”)
The details pursuant to Schedule III under Regulation 30 of the Listing Regulations read with SEBI Circular dated July 13, 2023, are enclosed below.
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Particulars Details
Name of authority Development Commissioner SEEPZ Special
Economic Zone (“SEEPZ-SEZ”)
Nature and details of the action(s) Imposition of Penalty of Rs. 50,000/- by the
taken, initiated or order(s) passed SEEPZ-SEZ
Date of receipt of communication from On May 15, 2024, the Company has received
the authority the show cause notice.
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| Particulars Details |
Particulars Details |
|---|---|
| Name of authority Development Commissioner SEEPZ Special EconomicZone (“SEEPZ-SEZ”) |
|
| Nature and details of the action(s) taken,initiated ororder(s) passed Imposition of Penalty of Rs. 50,000/- by the SEEPZ-SEZ |
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| Date of receipt of communication from the authority On May 15, 2024, the Company has received the show cause notice. |
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| Details of the violation(s)/contravention(s) committed or alleged to be committed |
The Company has received an Imposition of Penalty notice from the SEEPZ-SEZ. In the notice it is contended that though the Company is located in SEZ area, it rendered services in Domestic Tariff Area (DTA) in Indian Rupees (INR). The services provided in DTA were well within the same authorized operations as approved in the Letter of Approval (LOA) issued by the SEZ authority. Therefore, even though the Company provided services in DTA in INR, that does not render such services as not an approved activity. Further the DTA sales were during FY 2018-19 and FY 2019-20, which was discontinued since 2020 and there is no default in the subsequent period. Moreover, the Company is regular in following all the applicable compliances. |
O +91 20 6770 6000 E [email protected] W kpit.com
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
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Therefore, this was not done with any mala-fide intention. Impact on financial, operation or other There is no material impact on the activities of the listed entity, Company’s financials or operations due to quantifiable in monetary terms to the the said notice. extent possible The Company has made the disclosure after evaluating contents of the said penalty notice.
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: 2024.05.20 19:20:44 +05'30'
Nida Deshpande Company Secretary & Compliance Officer
O +91 20 6770 6000 E [email protected] W kpit.com
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