FGP Limited received a demand notice from the Maharashtra Labour Welfare Board for ₹39,13,712 regarding alleged statutory defaults. The company intends to contest the demand through legal remedies.

The notice, dated May 14, 2026, was received by the company on September 1, 2026. It cites alleged non-payment of statutory contributions under the Maharashtra Labour Welfare Fund Act, 1953.

Demand Details

The demand covers the period from June 1998 to June 2025. The total amount includes principal contributions and penal interest for delayed remittance.

What the Numbers Show

Penal interest constitutes a significant portion of the total demand. Of the ₹39,13,712 total, ₹29,43,176 is attributed to penal interest, indicating that the cost of delay exceeds the principal contribution amount.

Regulatory Disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shalu Sarraf, Company Secretary and Compliance Officer, signed the intimation on September 2, 2026.

FGP Limited disclosed a substantial acquisition of shares by Instant Holdings Limited and its Persons Acting in Concert (PACs). The promoter group increased its holding to 45.62% of the total voting capital, up from 43.60% in the previous disclosure.

The acquisition involved the purchase of 239,787 equity shares through open market transactions on the BSE Limited between May 5, 2026, and August 26, 2026. This represents an increase of 2.02% in the promoter group's stake.

Acquisition Details

The filing under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, lists Instant Holdings Limited along with nine other entities as PACs. These include Carnival Investment Limited, Swallow Associates LLP, Wonder Land LLP, Vayu Associates LLP, Chattarpati Apartments LLP, Nucleus Life Trust, Prism Estates Trust, RG Family Trust, Secura India Trust, and Mr. Harsh Vardhan Goenka.

Transaction Timeline

The bulk of the purchases occurred in late May and mid-June 2026, with additional buying activity recorded in August 2026. The largest single-day purchase was 30,654 shares on August 26, 2026, accounting for 0.26% of the total share capital.

• May 2026: Multiple transactions totaling approximately 1 lakh shares.
• June 2026: Continued accumulation with significant buys on June 18 (26,814 shares) and June 12 (7,548 shares).
• August 2026: Final tranche including 15,728 shares on August 20 and 30,654 shares on August 26.

What the Numbers Show

The promoter group's stake now stands at 45.62%, leaving approximately 54.38% of the equity share capital in public hands. The total voting capital of FGP Limited remains unchanged at 11,895,051 shares of face value ₹10 each, amounting to ₹11,89,50,510. There is no dilution of share capital resulting from these transactions.