REG - Dish TV India Ltd - Circ re. (Update)

Dish TV IndiaAnnouncement

21/08/2023 15:30

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RNS Number : 9679J  Dish TV India Limited  21 August 2023

 

 

August 21, 2023

 

London Stock Exchange plc.

10 Paternoster Square

London

EC4M 7LS

 

Ref.
:               Stock (Dish TV India) - GDR-MIC - XLOM

 

Sub.:      Disclosure under Regulation 30 of the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015

 

Dear Sir/Madam,

 

Pursuant to the provisions of Regulations 30 of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, read with SEBI (Listing
Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023
dated June 14, 2023 ('Listing Regulations'), the Company is required to
disclose ongoing litigation(s) which is / are reasonably expected to have a
material impact, as per the prescribed criteria for determining the
materiality.

 

The Company and its subsidiary have ongoing tax litigations with the Indian
tax authorities which are pending before various foras viz. Spl. Commissioner,
Department of Trade & Taxes, Delhi (OHA), Hon'ble High Court of Delhi,
CESTAT (Mumbai), CESTAT (Delhi), Hon'ble Supreme Court of India, Hon'ble High
Court of Uttar Pradesh at Lucknow and National Faceless Appeal Centre
(CIT-Appeals). These matters are on account of multiple issues viz. VAT on
alleged stock variation, transfer of right to use of capital goods, double
taxation in the case of entertainment tax, disallowance of CENVAT Credit,
classification of good under Custom Tariff, imposition of custom duty on
license fee, disallowance of loss claimed by the Company.

 

These are ongoing matters and have been disclosed as contingent liabilities in
the financial statements of the Company. However, in accordance with the
revised criteria of materiality prescribed under Regulation 30(4)(i)(c) of
Listing Regulations, as amended, the same cumulatively are considered as
material information and requires disclosures as per the amended Regulations.

 

 S. No  Court/Tribunal/Agency where litigation is filed                  Amount (Rs. in crores)
 1      Appeal with NFAC (CIT-Appeals)                                   549.38
 2      Spl. Commissioner, Department of Trade & Taxes, Delhi (OHA)      56.85
 3      Hon'ble High Court of Delhi                                      686.84
 4      CESTAT, Mumbai                                                   84.39
 5      Hon'ble Supreme Court of India                                   123.97
 6      CESTAT, Delhi                                                    112.94
 7      Hon'ble High Court of Uttar Pradesh at Lucknow                   91.20

 

We request you to take the above on record.

 

Thanking you,

 

Yours truly,

For Dish TV India Limited

 

 

 

Ranjit Singh

Company Secretary & Compliance Officer

Membership No. A15442

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