Siyaram Silk Mills Limited announced that the company has received demand order from the Office of the Deputy Commissioner of Revenue, State Tax, West Bengal. Nature and details of the action(s) taken, initiated or order(s) passed: Demand Order u/s 74 of CGST Act, 2017. Company is liable to pay INR 427,417.00 CGST & INR 427,417.00 SGST each along with interest.

Date of receipt of order: April 22, 2024. Details of the violation(s)/contravention(s) committed or alleged to be committed: 1. The vendors of the Company availed excess ITC. 2. Post Supply Discount claimed by the Company does not qualify u/s 15(3)(b) of WBGST Act, 2017.

Based on Company's assessment, the aforesaid demands are not maintainable as there are apparent mistakes and the Company is evaluating all options including filing an appeal against the orders. The company does not envisage any material impact on financials, operations or other activities of the Company.