Vinny Overseas Limited has received a notice from the Principal Commissioner of Customs at Mundra port, Kutch, Gujarat, alleging wilful mis-declaration and mis-classification of imported transfer/sublimation paper. The notice, issued under Section 28(4) read with Section 124 of the Customs Act, 1962, covers the period from July 6, 2023, to November 4, 2024.

The customs authority alleges that the company misclassified the imported goods to avail a lower Integrated Goods and Services Tax (IGST) rate of 12% instead of 18%, as well as to claim a 30% Basic Customs Duty (BCD) exemption. This action is said to have resulted in the short-payment of customs duty.

Notice Details

The notice involves an assessable value of imported goods held liable for confiscation amounting to ₹13,13,87,104. The specific financial demands outlined in the notice are:

The company received the communication on August 18, 2026. It invoked Sections 17, 28(4), 28AA, 28DA(10)(i), 111(m), 112(a), and 114A of the Customs Act, 1962, in its proceedings.

Company Response

Vinny Overseas disclosed the receipt of the notice pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated it is reviewing the notice and will respond within the prescribed timelines.

Management indicated that it does not anticipate any material impact on its financial, operational, or other activities due to this development.

Vinny Overseas Limited has appointed Dhawal Jadhav as an Independent Director for a term of five consecutive financial years, effective August 05, 2026. The Board of Directors approved the appointment during its meeting held on August 05, 2026, following a recommendation from the Audit Committee. This appointment strengthens the company’s governance structure as it seeks to enhance oversight in its operations involving rayon, cotton, and polyester fabric manufacturing. The resolution requires final approval from members at the ensuing Annual General Meeting.

The Board convened for 30 minutes, commencing at 4:00 P.M. and concluding at 4:30 P.M. on August 05, 2026. In compliance with Regulation 30 (Part A of Schedule III) of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, Vinny Overseas Limited disclosed the outcome of the meeting to the National Stock Exchange of India Limited and BSE Limited. The filing also included disclosures regarding statutory auditors as required under SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Director Profile and Qualifications

Dhawal Jadhav (DIN: 02885608) is an Assistant Professor at Ganpat University with over 15 years of combined experience in industry, academia, and research. He holds qualifications including Company Secretary, LL.M. Gold Medalist, and M.Com. His expertise spans Corporate Governance, Corporate Law, Finance, Strategic Management, and Corporate Sustainability. Previously, he served as Company Secretary and Compliance Officer at Sanrhea Technical Textile Limited. He has also published research in ABDC and Scopus-indexed journals.

Regulatory Disclosures

The disclosure confirms that Mr. Dhawal Jadhav is not related to any existing director of Vinny Overseas Limited. Furthermore, he is not debarred from holding the office of Director by virtue of any SEBI Order or any such authority, as per requirements outlined in BSE Circular ref. no. LIST/COMP/14/2018-19 and NSE ref. no. NSE/ML/2018/24 dated June 20, 2018. The appointment aims to bring specialized knowledge in compliance and governance to the Board, supporting the company’s role as a Government Recognised One Star Export House.