AYM Syntex Limited has received a significant regulatory communication from tax authorities regarding Input Tax Credit (ITC) compliance issues. The textile company disclosed receiving an Order-In-Original from the CGST & Central Excise Authority on April 21, 2026, under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details and Financial Implications

The Assistant Commissioner, CGST & Central Excise, Division-VIII, Daman Commissionerate issued Order-In-Original No.: DMN/EXCUS/PKP-AC/VIII/01/2026-27 dated April 21, 2026. The order contains specific financial demands against the company:

Nature of Non-Compliance

The demand pertains to input tax credit claimed by the company as per the provisions of the GST law in the financial year 2020-21. The authority has identified that the company wrongly availed and utilized ineligible ITC amounting to Rs.10,27,225/- during this period. The order requires the company to recover interest at an applicable rate on this wrongly availed amount, in addition to the substantial penalty imposed.

Company's Response and Assessment

AYM Syntex Limited has stated that it does not foresee any material impact on its financial, operational or other activities despite the penalty order. The company is currently in the process of evaluating a further course of action, including filing an appeal against the order. This suggests that the company may contest the findings and demands made by the tax authority.

Regulatory Compliance

The disclosure was made in compliance with multiple regulatory frameworks, including SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025. Company Secretary & Compliance Officer Kaushal Patvi signed the disclosure, confirming that the information provided is true, correct and complete to the best of his knowledge and belief.

AYM Syntex Limited has issued a newspaper publication notice under Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding meetings of equity shareholders and unsecured creditors for the proposed amalgamation scheme.

Regulatory Compliance and Publication Details

The company published the notice in Business Standard English Edition and Navshakti Marathi Edition on April 16, 2026. The publication was submitted to both BSE Limited (Scrip Code: 508933) and National Stock Exchange of India Limited (Symbol: AYMSYNTEX) as required under regulatory obligations.

Company Secretary and Compliance Officer Kaushal Patvi signed the disclosure letter digitally on April 16, 2026, at 15:15:49 +05'30', confirming the newspaper publication for information and records of the stock exchanges.

Amalgamation Scheme Overview

The Mumbai Bench of the National Company Law Tribunal issued an order dated April 6, 2026, in Company Application No. C.A.(CAA)/267(MB)/2025, directing meetings to consider the Scheme of Amalgamation between:

• Transferor Company: Mandawewala Enterprises Limited (CIN: U17200MH2007PLC452532)
• Transferee Company: AYM Syntex Limited (CIN: L99999MH1983PLC459099)

Both companies share the same registered office address at B-Wing, 9th Floor, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400013.

Meeting Schedule and Voting Arrangements

The tribunal has scheduled meetings for Monday, May 25, 2026, to be conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM):

Key Dates and E-Voting Timeline

The company has established specific cut-off dates and e-voting periods for both categories of stakeholders:

Document Availability and Access

Stakeholders can access the scheme documents and meeting notices through multiple channels:

• Company's registered office during working days (2:00 PM to 4:00 PM)
• Company website: www.aymsyntex.com/investors/shareholder-information/scheme-of-arrangement-amalgamation
• NSDL e-voting platform: www.evoting.nsdl.com
• Stock exchange websites: www.bseindia.com and www.nseindia.com
• Email requests to: investorrelations@aymgroup.com

Tribunal Appointments and Scrutiny Process

The National Company Law Tribunal has made key appointments for the meeting process:

• Chairperson: Ms. Mala Todarwal (with Mr. Harsh Bhuta as alternate)
• Scrutinizer: Mr. Hitesh Gupta, Practicing Company Secretary

The scrutinizer will oversee both remote e-voting and meeting e-voting processes. Results will be declared within three working days of meeting conclusion and published on company and stock exchange websites.

Voting Rights and Restrictions

Voting rights are proportional to shareholding for equity shareholders (as on May 18, 2026) and outstanding debt for unsecured creditors (as on September 30, 2025). Stakeholders can vote through only one mode - either remote e-voting or during the VC/OAVM meeting. If votes are cast through both modes, remote e-voting will prevail.

The scheme, if approved at the meetings, will require subsequent approval from the National Company Law Tribunal before implementation.