ACME Solar Subsidiary’s ₹7.82 Crore Tax Claim Appeal Admitted By Appellate Tribunal

ACME Solar Holdings Limited has informed the stock exchanges about a key development in its ongoing legal proceedings related to the recovery of disputed tax claims involving one of its subsidiaries. The company made this disclosure through a formal communication to the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) dated May 4, 2026.

According to the filing, the matter relates to a decision issued by the Rajasthan Electricity Regulatory Commission on November 13, 2025. In that order, the Commission had disallowed certain financial claims raised by ACME Aklera Power Technology Private Limited, a wholly owned subsidiary of ACME Solar. The rejected claims were associated with Basic Customs Duty and Goods and Services Tax (GST), collectively amounting to approximately ₹7.82 crore.

Following this regulatory setback, the subsidiary decided to challenge the decision before the Hon’ble Appellate Tribunal for Electricity. The appeal specifically seeks reconsideration of the disallowed tax-related claims and aims to recover the amount that was earlier rejected by the state regulatory authority.

The company has now confirmed that the Tribunal has admitted the appeal for hearing. The admission order was issued on April 29, 2026, and ACME Solar received formal communication regarding this development on May 4, 2026. This prompted the company to make the necessary disclosure to the stock exchanges in compliance with regulatory requirements.

ACME Solar stated that the disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also clarified that the matter does not involve any promoters or key managerial personnel and is limited to financial claims raised by its subsidiary.

With the appeal now admitted, the case will proceed to the hearing stage before the Tribunal. However, the final outcome regarding the recovery of the ₹7.82 crore remains pending and will depend on future proceedings and judicial review.

The company has reiterated its commitment to maintaining transparency and ensuring timely updates to investors and regulatory authorities as the case progresses. For now, the development marks an important procedural step, but no financial resolution has yet been reached.