KALPATARU

KALPATARU: SUBSIDIARY FACES ₹63.49 CR MSEDCL DEMAND; HC ORDERS 50% DEPOSIT ⚖️ • ⚡️ MSEDCL has issued a final assessment order raising a demand of ~₹63.49 crore against Kalpataru Retail Ventures Ltd (KRVL), a wholly-owned subsidiary • 🏛️ The demand relates to an alleged violation of electricity supply to retailers within a mall premises under the Electricity Act, 2003 • ⚖️ The Bombay High Court has directed KRVL to deposit 50% of the assessed amount with the Court Registry within 3 weeks • 📋 KRVL is evaluating legal remedies and plans to pursue appropriate proceedings before the competent forum/courts • 🛡️ The company believes the demand is without legal basis and is liable to be set aside/quashed 🟡 Impact: Neutral to Negative (Interim cash outflow due to the court-mandated deposit, though the company is contesting the demand and the matter remains sub judice.)