Mandawewala Enterprises Limited has filed a regulatory disclosure with BSE Limited and the National Stock Exchange of India Limited, confirming that no encumbrance was created on the shares of AYM Syntex Limited during the financial year 2025-26. The declaration was submitted pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and is dated April 3, 2026.

Regulatory Disclosure Under SEBI Takeover Regulations

In the filing, Mandawewala Enterprises Limited confirmed and declared that, during the financial year 2025-26, the promoters along with persons acting in concert of AYM Syntex Limited, referred to as the 'Target Company', have not created any encumbrance on the shares of the Target Company held directly or indirectly at any time during the financial year 2025-26. The disclosure was signed by Kaushal Patvi, Company Secretary of Mandawewala Enterprises Limited, with a digital signature dated April 3, 2026.

Promoters and Persons Acting in Concert

The filing includes a detailed list of promoters and persons acting in concert as Annexure – 1. The following individuals and entities are identified in the disclosure:

Filing Details

The disclosure was addressed to BSE Limited and the National Stock Exchange of India Limited, as well as the Audit Committee of AYM Syntex Limited. Mandawewala Enterprises Limited is registered at B-Wing, 9th Floor, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra 400013. The filing reaffirms compliance with the applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, for the financial year 2025-26.

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.