Active Clothing Co . Limited has received a significant GST order from tax authorities covering a five-year period from 2019-20 to 2023-24. The company disclosed this development to BSE on March 3, 2026, following regulatory requirements under SEBI listing obligations.

GST Order Details

The Joint Commissioner, Office of Principal Commissioner, CGST Commissionerate, Ludhiana issued the order on March 2, 2026. The order relates to tax ascertained as being payable under section 74 of the CGST/SGST Act, 2017.

Company's Response and Compliance

Active Clothing Co. has taken proactive steps to address the GST order requirements. The company has already fulfilled a liability of ₹2,36,054 through deposit and reversal mechanisms. Additionally, the balance amount is planned to be deposited and claimed as GST input in the current year.

Penalty Deposit Status

The company has deposited ₹7,04,090 as penalty, representing 25% of the total penalty amount as applicable before the order was uploaded. This demonstrates the company's commitment to regulatory compliance.

Background and Context

This GST order follows an earlier disclosure made by Active Clothing Co. on November 14, 2025, regarding the receipt of a Show Cause Notice issued by Joint Commissioner CGST (Audit), Ludhiana. The current order represents the conclusion of that audit process.

Financial Impact Assessment

According to the company's disclosure, there is no other demand beyond what has been specified in the current order. The company has indicated that the financial impact is manageable, with most obligations already addressed through deposits and planned GST input claims.

The textile manufacturer, based in Punjab with operations in Mohali and Fatehgarh Sahib, continues to maintain transparency with stakeholders through timely regulatory disclosures as required under SEBI listing regulations.

Active Clothing Co . Limited successfully concluded its extraordinary general meeting on February 26, 2026, with shareholders unanimously approving the issue of warrants convertible into equity shares on a preferential basis. The voting results, announced on February 27, 2026, demonstrated complete shareholder support for the proposed corporate action.

Meeting Arrangements and Leadership

The extraordinary general meeting was held at the registered office located at Plot No. E-225, Phase-VIII B, Industrial Area, Focal Point, Mohali, commencing at 11:00 A.M. The meeting was conducted in physical mode with e-voting facility provided by Bigshare Services Pvt. Ltd., ensuring compliance with circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

Mr. Naval Kishore Gupta, Independent Director, was elected as chairperson of the meeting due to the absence of regular Chairperson Mr. Rajesh Kumar Mehra. The chairperson confirmed that requisite quorum was present and proceeded with the meeting agenda.

Voting Results and Unanimous Approval

The voting results revealed overwhelming shareholder confidence in the warrant issue proposal. Scrutinizer Poonam Sethi of Sethi Poonam & Associates conducted the voting process scrutiny and submitted the consolidated report on February 27, 2026.

Voting Arrangements and Procedures

The company implemented comprehensive voting mechanisms to ensure maximum shareholder participation. Remote e-voting facility was made available to all members from February 23, 2026, at 9:00 A.M. to February 25, 2026, at 5:00 P.M. Additionally, physical voting was provided at the meeting venue until conclusion for members who had not participated in the earlier e-voting process.

Regulatory Compliance and Documentation

Managing Director Rajesh Kumar Mehra digitally signed the voting results communication to BSE Limited on February 27, 2026, ensuring timely regulatory compliance. The scrutinizer's report confirmed that the voting process was conducted in a fair and transparent manner, adhering to provisions of the Companies Act, 2013.

The voting results have been published on the company's website at www.activeclothing.in and on www.bigshareonline.com for stakeholder access. The unanimous approval demonstrates strong shareholder confidence in the company's strategic direction and the proposed warrant issue for raising capital through preferential allotment.