Circ re. (Update)

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

 

END