Infosys has received a communication regarding a penalty for the non-realization of export proceeds, amounting to INR 1,13,59,395. The penalty relates to alleged non-realization of export proceeds on account of write-offs of invoices for the financial years 2018-19 to 2022-23. The company states that this communication will not have any material impact on the financials or operations.
Penalty Related to Export Proceeds
Infosys has received a communication from an authority regarding a penalty collection.
Details of the Penalty
The communication pertains to a penalty related to alleged non-realization of export proceeds. The total penalty amount is INR 1,13,59,395.
Reason for the Penalty
The penalty is for alleged non-realization of export proceeds related to write-offs of invoices for the financial years 2018-19 to 2022-23.
Impact on Operations
Infosys has stated that there is no material impact on its financials, operations, or other activities as a result of this communication.
Source: BSE
