Cyber Media India Ltd - 532640 - Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements)Regulations, 2015
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the Company and its Material Subsidiary, Cyber Media Research & Services Limited have received following Show Cause cum Demand Notices from the Office of the Commissioner, Central, Goods and Services Tax, Delhi, under the provisions of the Service Tax Act: the Company, for an amount of Rs. 50,95,955 (Rupees Fifty Lakh Ninety Five Thousand Nine Hundred Fifty Five only) demanding Service Tax plus interest, penalty and reversal of CENVAT Credit; and Cyber Media Research & Services Limited, Material Subsidiary of the Company, for an amount of Rs. 82,49,436 (Rupees Eighty Two Lakh Forty Nine Thousand Four Hundred Thirty Six only) demanding Service Tax. In our opinion the said amounts are not payable and as such we will be contesting the said demands before appropriate authorities under the CGST Act.28-05-2021