Nuvoco Vistas Corporation disclosed that its wholly owned subsidiary, NU Vista Limited, has received a show cause notice from the Joint Commissioner of CGST in Durgapur. The tax authority proposes a demand of ₹15.41 crore related to input tax credit denials spanning four fiscal years.

The notice, dated August 25, 2026, targets transactions from FY21 to FY24. It specifically challenges the company’s claim of input tax credit on civil construction, toll charges, and canteen expenses. Additionally, the authority disputes the reduction in output tax liability arising from credit notes issued for sales returns and post-sale discounts.

Regulatory Disclosure

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shruta Sanghavi, SVP and Company Secretary, signed the filing addressed to BSE and NSE. The company stated it would file an appropriate reply before the Joint Commissioner, CGST, Durgapur Audit Commissionerate, West Bengal.

Financial Impact Assessment

Nuvoco Vistas indicated that the matter is unlikely to result in significant financial strain. The company believes it holds sufficient documentary evidence to support its position on the disputed credits. Management expressed confidence that the issue would be resolved appropriately upon review of the submissions.

Accordingly, the firm stated that the notice will have no major financial impact on its consolidated results. The quantum of claims field in the regulatory filing was marked as NA, suggesting no additional penalties or interest were explicitly quantified in the initial notice summary provided to exchanges.

Nuvoco Vistas Corporation has scheduled its 27th Annual General Meeting (AGM) for Monday, August 31, 2026, at 02:30 p.m. (IST), to be conducted via Video Conference or Other Audio-Visual Means (OAVM). The meeting aims to address critical governance matters, most notably the appointment of M/s. Walker Chandiok & Co LLP as the new Statutory Auditors, replacing M/s. M S K A & Associates LLP who resigned effective July 13, 2026. Shareholders will also vote on the re-appointment of Non-Executive Director Hiren Patel and ratify the remuneration for Cost Auditors for FY2025-26. This update supersedes earlier intimation notices published in August 2026.

The change in statutory auditors is a significant development for investors monitoring governance stability. Walker Chandiok, established in 1935 with 97 partners, is recommended by the Audit Committee to fill the casual vacancy. Their proposed remuneration for FY2025-26 (covering nine months and FY26) is ₹1,09,00,000 (Rupees One Crore and Nine Lakhs Only), exclusive of taxes and out-of-pocket expenses. If approved, they will serve until the conclusion of the 32nd AGM in 2031, marking a five-year term.

Key Agenda Items

The AGM notice outlines three primary ordinary business items and one special business item. Members are required to cast their votes electronically through National Securities Depository Limited (NSDL). Remote e-voting will be open from 9:00 a.m. on Wednesday, August 26, 2026, until 5:00 p.m. on Sunday, August 30, 2026. The cut-off date for determining voting eligibility is Monday, August 24, 2026.

Governance and Participation

Hiren Patel, who has been associated with the Nirma Group since 1997 and serves as Managing Director of Nirma Limited, attended all eight Board meetings during FY2025-26. His re-appointment is subject to shareholder approval under Section 152(6) of the Companies Act, 2013. No directors or key managerial personnel have any financial interest in the auditor appointments or cost audit remuneration.

Shareholders must ensure their email addresses are registered with depositories to receive electronic documents. Physical copies can be requested via investor.relations@nuvoco.com . The facility for proxy appointment is not available due to the virtual format of the meeting. Institutional members must submit certified board resolutions authorizing representatives to attend and vote.

What This Means for Investors

The transition of statutory auditors requires shareholder consent to validate the appointment of Walker Chandiok & Co LLP. This ensures continuity in financial oversight while adhering to regulatory norms regarding auditor rotation and casual vacancies. Investors should note that the remote e-voting module will disable after the AGM concludes. Questions for the management can be submitted by August 26, 2026, while speaker registration closes on August 24, 2026. The outcome of these resolutions will impact the company’s audit framework for the next five years.