Omnipotent Industries Limited has disclosed material litigation involving GST matters that could have significant financial implications for the company. The disclosure was made on March 18, 2026, pursuant to SEBI Listing Regulations.

GST Litigation Details

The litigation pertains to the alleged irregular availment and utilization of input tax credit without underlying receipt of goods and services. The case has been filed at the Office of the Commissioner of CGST & Central Excise, Thane, with the company receiving the order on March 17, 2026.

Financial Implications

The litigation carries substantial financial consequences for both the company and its former Managing Director. The total financial exposure includes multiple components of demands, interest, and penalties.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Master circular no. SEBI/HO/CFD/POD2/CIR/P/0155 dated November 11, 2024. Company Secretary and Compliance Officer Aman Patel signed the disclosure document.

Key Implications

The litigation involves significant financial exposure with the primary demand and penalty amounts each totaling Rs 10,22,57,746. Additional interest charges as per applicable provisions further increase the potential financial impact. The company has assessed this matter as material, indicating its potential significance to the business operations and financial position.

Omnipotent Industries Limited has issued a revised intimation to BSE Limited regarding the appointment of M/s Ritik Agrawal & Company, Chartered Accountants as its Internal Auditor. The formal communication was submitted on February 16, 2026, following the board approval granted on February 14, 2026.

Regulatory Compliance and Documentation

The revised intimation has been submitted pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has provided comprehensive documentation to BSE Limited including the appointee's detailed profile as required under SEBI regulations.

Appointment Details and Timeline

The key details of the internal auditor appointment are presented below:

Profile of the Appointed Internal Auditor

M/s Ritik Agrawal & Company is a firm of Chartered Accountants duly registered with the Institute of Chartered Accountants of India (ICAI) under Firm Registration Number 038727C. According to the formal documentation submitted to BSE, the firm adopts a systematic and risk-based audit approach designed to evaluate the adequacy and effectiveness of internal control systems.

The appointed firm's methodology focuses on ensuring compliance with applicable laws, regulations, and corporate governance standards, which aligns with the company's commitment to maintaining robust internal controls and governance framework.

Corporate Communication and Compliance

The revised intimation was digitally signed and submitted by Aman Patel, Company Secretary and Compliance Officer (Membership No.: A79254), ensuring full transparency and regulatory compliance in the disclosure process. The communication includes comprehensive annexure detailing the appointment specifics as mandated under SEBI circular requirements.

This appointment represents Omnipotent Industries Limited's continued focus on strengthening its corporate governance framework through proper internal audit functions and regulatory compliance.