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Sterling And Wilson Renewable Energy Limited ( (IN:SWSOLAR) ) has issued an announcement.
Sterling and Wilson Renewable Energy Limited has disclosed that the Deputy Commissioner of State GST in Gautambuddha Nagar, Noida, Uttar Pradesh has issued an order citing a shortfall of taxes and mismatch of input tax for the period April 2021 to March 2022, amounting to approximately INR 9.40 crore including penalty and interest. The company stated that a portion of this exposure is 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, implying that while there may be some financial impact, risk-mitigation arrangements are in place and the final liability and operational implications remain to be assessed.
More about Sterling And Wilson Renewable Energy Limited
Sterling and Wilson Renewable Energy Limited is an India-based renewable energy company focused on providing engineering, procurement and construction (EPC) services for solar and other clean energy projects, serving utility-scale and large commercial customers in domestic and international markets.
Average Trading Volume: 215,232
Technical Sentiment Signal: Sell
Current Market Cap: 49.68B INR
See more data about SWSOLAR stock on TipRanks’ Stock Analysis page.