Matrimony.com Limited has received multiple GST penalty orders from various state departments totaling Rs 10,23,91,715, as disclosed in its regulatory filing under SEBI Listing Regulations. The company has also been served with additional demands for tax payments and interest charges across multiple jurisdictions.

Company Explains Disclosure Delay

Following BSE's inquiry regarding the delay in disclosure beyond the mandatory 24-hour period, Matrimony.com clarified that company officials were internally evaluating the impact of the GST orders, including obtaining expert opinions and finalizing the course of action before submitting to stock exchanges. Company Secretary Vijayanand Sankar communicated this explanation in a formal response dated April 7, 2026.

State-wise Penalty Breakdown

The penalties have been distributed across four states with Tamil Nadu accounting for the largest portion. Each state department has issued orders for different time periods and specific violations.

Alleged Violations

The GST departments have identified several violations across different states, primarily related to Input Tax Credit (ITC) irregularities and Input Service Distributor (ISD) issues:

Tamil Nadu violations:

• Blocked ITC under Section 17(5) of the CGST Act, 2017
• Excess distribution of Common input services under ISD
• Ineligible ITC under ISD

Karnataka, Kerala, and Maharashtra violations:

• Excess distribution of Common input services under ISD
• Ineligible ITC under ISD
• General penalty for not maintaining proper books of accounts (Maharashtra only)

Company's Response and Legal Position

Matrimony.com Limited has stated that the demand orders pertain to periods ranging from April 2019 to March 2020 for Tamil Nadu and Kerala, and April 2019 to March 2023 for Karnataka and Maharashtra. The company maintains there is no material impact on its financials, operations, or other activities due to these orders.

The company believes it has a strong case on merits and reasonable belief based on expert opinion that the demands are without legal justification and liable to be set aside by appellate authorities. The company is evaluating various steps to resolve the issue, including filing appeals against the orders and pursuing appropriate legal recourse in the matter.

Matrimony.com Limited has announced a key change in its senior management team with the resignation of Mr. Vaitheeswaran.S, Vice President of Personalised Services. The resignation becomes effective as of the closing hours of March 31, 2026, marking the end of his tenure with the matrimonial services company.

Resignation Details

The company filed the mandatory disclosure with BSE Limited on March 30, 2026, in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The formal resignation was submitted on January 1, 2026, with the executive citing personal reasons for his departure.

Tenure and Contributions

In his resignation letter addressed to CEO Mr. Murugavel Janakiraman, Vaitheeswaran.S highlighted his significant contributions during his tenure spanning slightly above a decade. He expressed gratitude for the opportunity to contribute meaningfully to the company's growth, particularly in scaling up the Assisted RM channel business.

The outgoing Vice President noted a remarkable achievement during his tenure - expanding the Assisted RM channel business nearly 25 times, from 20L per month to nearly 5CR monthly revenue. This substantial growth demonstrates his impact on the company's personalised services division.

Regulatory Compliance

Matrimony.com has fulfilled all regulatory requirements regarding the senior management change. The company has:

• Filed the disclosure under Regulation 30 of SEBI Listing Regulations
• Provided detailed information as per SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023
• Uploaded the disclosure on the company website at www.matrimony.com
• Attached the resignation letter as supporting documentation

Transition Support

Vaitheeswaran.S has committed to supporting the transition process in any way needed, ensuring continuity in the Personalised Services division operations. The three-month notice period from January to March 2026 provides adequate time for knowledge transfer and succession planning.

The resignation represents a significant change for Matrimony.com's senior management team, particularly given the executive's long tenure and substantial contributions to the company's growth in the personalised services segment.