MV Electrosystems Limited IPO

The company is involved in various legal proceedings from time to time, mostly arising in the ordinary course of business. These legal proceedings are primarily in the nature of civil suits, criminal proceedings, regulatory proceedings and tax disputes pending before various authorities. The company has disclosed all outstanding criminal litigation and tax proceedings involving the company, all outstanding civil litigation exceeding 2% of turnover or 2% of net worth or 5% of the average of absolute value of profit or loss after tax, all outstanding actions by statutory or regulatory authorities, any other outstanding litigations where an adverse outcome would materially and adversely affect the business, operations, prospects, reputation or financial position, and any litigations involving the Directors and Promoters where an adverse outcome shall have a material impact on the Company. There are no inquiries, inspections or investigations initiated or conducted under the Companies Act, 2013 involving the company, no prosecutions filed, fines imposed, or compounding of offences involving the company, no defaults in payment of statutory dues, debentures, deposits, or loans, no material frauds committed against the company, no defaults in annual filing, no significant and material orders passed by regulators impacting the going concern status, and no reservations, qualifications or adverse remarks of auditors in the last five Fiscal Years. Pre-litigation notices received from third parties shall not be considered as litigation proceedings till the company, directors, or promoters are impleaded as parties.