Prince Pipes & Fittings Limited has received a GST demand order of ₹31.12 lakhs from the Rajasthan GST Department for financial year 2019-20. The company informed stock exchanges about this development under Regulation 30 of SEBI Listing Regulations on April 01, 2026.

GST Demand Order Details

The demand order was issued in Form GST DRC-07 dated March 30, 2026, by the Office of Joint Commissioner, State Goods & Service Taxes Department, Government of Rajasthan, Jaipur. The order was issued under Section 74 of the CGST/RGST Act, 2017, and rules framed thereunder.

Nature of Allegations

The GST authorities have issued the demand notice alleging that the company claimed certain ineligible input tax credit under Section 17(5) of the CGST/RGST Act during FY 2019-20. The demand pertains to the jurisdiction of Circle-D, Jaipur, Zone-IV, Zonal Kar Bhavan, Jhalana, Jaipur, Rajasthan.

Company's Response and Assessment

Prince Pipes and Fittings has stated that based on its assessment, the demand is not maintainable. The company is currently evaluating the matter and will submit its reply within the prescribed time limit as per GST regulations.

Impact on Operations

The company has indicated that it does not envisage any relevant impact on its financials, operations, or other activities due to this demand order. This assessment is based on the company's belief that the demand is not sustainable and can be successfully contested through appropriate legal channels.

The information has been made available on the company's website at www.princepipes.com as part of its disclosure obligations under SEBI regulations.

Prince pipes & fittings Limited has announced a key leadership change with the resignation of its Company Secretary and Compliance Officer. The company informed stock exchanges about this development in compliance with regulatory disclosure requirements.

Leadership Transition Details

Mr. Shailesh Bhaskar, who served as Company Secretary and Compliance Officer, submitted his resignation effective from the close of business hours on February 24, 2026. The resignation was attributed to personal reasons and his pursuit of better career prospects.

Regulatory Implications

The resignation carries broader implications for the company's regulatory framework. Following his departure, Mr. Bhaskar will cease to hold multiple statutory positions:

• Nodal Officer under Section 125 of the Companies Act, 2013
• IEPF Authority coordination role under Rule 7(2A)
• Key Managerial Personnel authorized for materiality determination
• Designated person for SEBI disclosure requirements under Regulation 30

Compliance and Documentation

The company has fulfilled all regulatory disclosure obligations under Regulation 30 of SEBI Listing Regulations. The announcement includes comprehensive details as required under Schedule III and additional requirements specified in recent SEBI circulars dated November 11, 2024, and December 31, 2024.

The resignation letter, dated February 23, 2026, was formally accepted by the company with effect from February 24, 2026. Mr. Bhaskar expressed gratitude to the Board of Directors, management, and CFO for their support during his tenure with the organization.