Kalpataru Projects International Limited (KPIL) announced that the Gujarat Industrial Development Corporation (GIDC) has reduced a penalty levied on the company to Nil in one application. The initial penalty amounted to INR 0.44 crore plus applicable GST. This resolution follows an earlier dispute regarding alleged non-fulfillment of ground coverage construction requirements. An application for the balance amount is currently under adjudication.
GIDC Corrigendum Order
Kalpataru Projects International Limited (KPIL) received a favorable corrigendum order from the Gujarat Industrial Development Corporation (GIDC) on November 13, 2025. This order significantly reduces a previously imposed penalty.
Background of the Dispute
The dispute originated from alleged non-fulfillment of ground coverage construction requirements, leading GIDC to issue two provisional transfer orders and levy a non-use penalty of INR 2.12 crores, along with applicable GST.
Penalty Reduction Details
Following the corrigendum order, the penalty in one application has been reduced to Nil. This portion of the penalty initially amounted to INR 0.44 crore plus applicable GST. The application for the remaining balance is currently under adjudication based on similar grounds.
Previous Announcement
This update refers to the company’s earlier intimation on January 2, 2024, regarding the initial imposition of the penalty by GIDC.
Source: BSE