Manappuram Finance Limited has received an Order under Section 74 of Central Goods and Services Tax Act, 2017 and Andhra Pradesh Goods and Services Tax Act, 2017 /Read with Integrated Goods and Services Tax Act, 2017, wherein Penalty of INR 14.5 Billion has been imposed/demanded. The Company is of the firm view that the allegation raised in the Order is not tenable. Further, the Company is in the process of filing an Appeal.

There is no material impact on financial, operation or other activities of the Company due to the said Order.