It anticipates a favourable resolution at the appellate level and does not foresee any significant financial implications stemming from the said order. As per the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mahindra shared the requisite details of the penalty order under Clause 20 of Para A of Part A of Schedule III. This disclosure is in accordance with the SEBI circular issued on July 13, 2023. The company's commitment to transparent communication is evident as it offers detailed insights into the contents of the order. While the penalty amount is not insignificant, its financial impact on the company is expected to be manageable. Mahindra's confidence in a favourable appellate-level resolution and its proactive approach to disclosure underscores its commitment to regulatory compliance and responsible corporate governance.