This is further to the GTPL Hathway Limited's communication to the Stock Exchanges dated January 20, 2024, regarding receipt of an order dated January 19, 2024 from the State Tax Officer, Adjudication (Intelligence), Adjudication Cell, Cuddalore, levying a penalty of INR 10,172,314/- on Air Media Network Private Limited ("Consignor") /the Company ("Consignee"). The Company had made a representation against the levy of above penalty and is now in receipt of a revised order dated March 05, 2024 under Section 161 of the Tamil Nadu Goods and Services Tax Act and the Central Goods and Services Tax Act, 2017 read with relevant provisions of the State Integrated Good and Services Tax Act, 2017, reducing the penalty amount to INR 5,086,158/- under Section 129 of the Tamil Nadu Goods and Services Tax Act and the Central Goods and Services Tax Act, 2017 read with relevant provisions of the State Integrated Good and Services Tax Act, 2017. The Company has been legally advised that the order cannot be passed against the Company since the Company is not the `owner' of the goods.

The Company intends to pay the amount under protest to obtain possession of the goods and thereafter file an appeal before the appropriate authority challenging the order.