Everest Industries has accepted the resignation of Dr. Trissa Joseph from the position of Vice President - Research and Development. Her departure is effective from the close of working hours on September 30, 2026.

The company disclosed the change in senior management personnel pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to both the National Stock Exchange of India Limited and BSE Limited on September 11, 2026.

Resignation Details

Dr. Joseph tendered her resignation due to personal reasons. In her resignation email sent to Hemant Khurana, she confirmed that her last working day would be September 30, 2026. She stated her commitment to ensuring a smooth transition of responsibilities before leaving the organization.

The disclosure was signed by Amruta Avasare, Company Secretary & Compliance Officer of Everest Industries Limited. The resignation was formally communicated via email on September 11, 2026, at 2:28 pm.

Everest Industries received a show cause notice from the Odisha GST department on August 31, 2026. The notice raises a total demand of ₹3.89 crore for the financial year 2020-21.

The Deputy Commissioner of State Tax, CT & GST Circle, Balasore, issued the notice under Section 74 of the CGST Act, 2017 & OGST Act, 2017. The company disclosed the receipt to stock exchanges on September 1, 2026, pursuant to Regulation 30 of SEBI Listing Regulations.

Notice Details

The demand comprises tax, interest, and penalty components. The breakdown is as follows:

The notice cites several objections regarding the company's tax compliance for FY21. Key issues include:

• Discharge of CGST & SGST liabilities without due interest
• Issuance of Credit Notes beyond the time limit
• Receipts of Credit Notes for inward supplies and reduction of Input Tax Credit (ITC)
• Availed blocked credit under Section 17(5) of the CGST/SGST Act
• Disallowance of ITC on contravention of Section 16(2)(c)
• Liability under Reverse Charge Mechanism (RCM) transactions

Company Response

Everest Industries stated it firmly believes it has strong legal and factual grounds to defend the case. The company is preparing a response to the notice.

Management indicated there is no expected material financial impact at this stage. The company does not consider it likely that the potential demand will materialize as a claim or result in liability.