ICICI Securities Limited has received order under sections 73, 50 & 122 of CGST Act, 2017 from the office of the State Tax officer, State Goods and Service Tax Department, Gujarat on April 2, 2024 at 00:03 a.m. In the said order, the authority has demanded GST along with interest and penalty. The Company has a strong case to defend the matter before the Appellate Authorities and shall file an appeal against the said order before the Commissioner (Appeals) within prescribed timelines. Details of the violation(s)/contravention(s) committed or alleged to be committed: Excess claim of GST credit.

Impact on financial, operation or other activities of the Company, quantifiable in monetary terms to the extent possible: Total: INR 6,669,733.