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LTM LIMITED — Regulatory Filings 2024
Sep 11, 2024
63251_rns_2024-09-11_ee1ec05b-51f8-497f-95a7-10b315c9a842.pdf
Regulatory Filings
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LTIM/SE/STAT/2024-25/63
September 11, 2024
National Stock Exchange of India Limited, Exchange Plaza, Bandra-Kurla Complex, Bandra (E) Mumbai - 400 051
The BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street Mumbai - 400 001
NSE Symbol: LTIM
BSE Scrip Code: 540005
Dear Sir(s)/Madam,
Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
With reference to the captioned subject, we would like to inform you that the Company has received demand notices of Rs. 1,08,47,424/- (including penalty of Rs. 54,23,712/-) by the Office of the License Officer Seilingampally Zone, Greater Hyderabad Municipal Corporation (‘GHMC’) alleging that the Company has not obtained Trade License for its offices in Hyderabad.
However, the Company believes that the levy by GHMC is unjustified since as per prevailing municipal laws, trade license is not applicable for Company’s operations. Company will be appealing against the levy.
For details as required pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, please refer enclosed Annexure A .
This is for your information and records.
Thanking you, Yours faithfully,
For LTIMindtree Limited
ANGNA Digitally signed by ANGNA ANISH ARORA ANISH ARORA Date: 2024.09.11 11:51:34 +05'30'
Angna Arora
Company Secretary and Compliance Officer Encl.: As above
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Annexure A
| Sr. No. | Particulars | Details |
|---|---|---|
| (a) | Name of the authority | Office of the License Officer Seilingampally Zone, Greater Hyderabad Municipal Corporation(GHMC). |
| (b) | Nature and details of the action(s) taken, initiated or order(s) passed; |
The Commissioner of the Greater Hyderabad Municipal Corporation (GHMC) has issued a demand notice for a total amount of Rs. 1,08,47,424/-(including penalty of Rs. _54,23,712/-)_alleging that the Company has not obtained trade license for its offices located in Hyderabad. |
| (c) | Date of receipt of communication from the authority |
September 10, 2024 |
| (d) | Details of the violation(s)/ contravention(s) committed or alleged to be committed; |
The GHMC has issued demand notices_(including penalty)_for not obtaining trade license for its offices in Hyderabad. However, the Company believes that as per prevailing municipal laws, trade license is not applicable for Company’s operations. |
| (e) | Impact on financial, operation or other activities of the Company, quantifiable in monetary terms to the extent possible |
The total amount of penalty payable based on the demand notices is Rs. 54,23,712/- Based on assessment of facts and prevailing law, the Company is of the view that the demand_(including penalty)_ is unjustified. The Company will take an appropriate legal course of action in consultation with its advisors. Accordingly, there is no likely material impact on the Company’s financials or operations. |
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