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Sterling And Wilson Renewable Energy Limited ( (IN:SWSOLAR) ) has shared an update.
Sterling and Wilson Renewable Energy has disclosed that the Deputy Commissioner of State Taxes, Audit-V, Mumbai has issued an order for a mismatch of input tax credit and shortfall in taxes paid for the period April 2021 to March 2022, totaling about INR 11.79 crore, including penalties and interest. The company said the exposure is partially covered under an indemnity agreement with Reliance New Energy Limited, Shapoorji Pallonji and Co. Private Limited and promoter Khurshed Daruvala, and it is currently evaluating the order and determining its next steps, indicating a potentially limited net financial impact while highlighting ongoing tax scrutiny as a compliance consideration for stakeholders.
More about Sterling And Wilson Renewable Energy Limited
Sterling and Wilson Renewable Energy Limited is an India-based renewable energy company focused on engineering, procurement and construction (EPC) services for solar and other clean energy projects, serving utility-scale and large commercial clients in domestic and international markets.
Average Trading Volume: 215,232
Technical Sentiment Signal: Sell
Current Market Cap: 49.68B INR
Learn more about SWSOLAR stock on TipRanks’ Stock Analysis page.