Ujaas Energy Receives Tax Notice for ₹511.4 Million

Ujaas Energy Ltd has been issued a tax notice amounting to ₹511.4 million. This development comes as the company is already dealing with a show cause notice from the GST department for the periods between April 2021 and March 2023. Ujaas Energy, involved in solar power generation and electric vehicle manufacturing, has experienced significant financial fluctuations in recent years. The company's shares have shown substantial volatility, reflecting its challenging operational environment. This latest tax notice adds to the financial pressures Ujaas Energy faces, including a previously dismissed revival plan under the corporate insolvency resolution process.

 

Source: Business Standard, The Economic Times, Moneycontrol