E. Litigation involving our Group Companies

Our Group Companies are not a party to any pending litigation, which may have a material impact on our
Company.

F. Tax Proceedings involving our Company, Subsidiaries, Directors and Promoters

Details of outstanding tax proceedings involving our Company, Subsidiaries, Directors and Promoters as on the
date of this Prospectus are disclosed below.

 

 

 

 

 

 

 

Nature of Proceedings Number of Proceedings Amount involved (% in million)*
Direct Tax
‘Company 2 67.72
Subsidiaries 6 42.11
Directors 1 8.84
Promoters 2 245.82
‘Sub-Total (A) oF 355.65"

 

 

Indirect Tax

 

 

 

 

 

 

 

 

 

 

‘Company 33 2,836.94
Subsidiaries 1 0.80
Directors 1 0.62
Promoters 1 0.62
Sub-Total (B) 35" 2,838.36"
TOTAL (A+B) 44 3,194.01

 

 

* To the extent quantifiable
#The outstanding proceeding listed above against our directors and promoters refers to one proceeding against
Mr. Ravi B. Goyal, one of our Directors and one of our Promoters.

G. Outstanding Dues to Creditors

In accordance with the SEBI ICDR Regulations, our Company, pursuant to a resolution dated August 6, 2021 of
our Board considers all creditors to whom the amount due by our Company exceeds 2195.53 million, which is
5% of the total trade payables of our Company as on August 31, 2021 in accordance with the Restated
Consolidated Financial Information as material creditors of our Company.

Details of outstanding dues owed to material creditors, MSMEs and other creditors as of August 31, 2021 are set
out below:

 

 

 

 

 

 

Types of Creditors Number of Creditors Amount Involved ( in million)
Material Creditors 1 195.92
MSME Creditors 116 295.51
Other creditors 3,418 3,419.15
Total 3,535, 3,910.58

 

 

 

 

For further details of the outstanding dues to creditors as of August 31, 2021, see the website of our Company at
www.agsindia.com.

Information provided on the website of our Company is not a part of this Prospectus. Anyone placing reliance
on any other source of information, including our Company's website, www.agsindia.com, would be doing so at
their own risk.

Material Developments since the Last Balance Sheet

Other than as disclosed in “Management's Discussion and Analysis of Financial Condition and Results of
Operations” on page 357, in the opinion of our Board, no circumstances have arisen since the date of our last
balance sheet as disclosed in this Prospectus which materially and adversely affect, or are likely to affect, our
operations or profitability, or the value of our consolidated assets, or our ability to pay our liabilities within the
next 12 months.

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