Aditya Birla Fashion and Retail Limited has received a substantial tax demand order from Haryana's State Goods and Services Tax (SGST) authorities, totaling ₹13.29 crores. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Regulations on December 31, 2025.

Tax Demand Details

The Deputy Excise and Taxation Commissioner, SGST, Gurugram (East), Government of Haryana, issued the order in Form DRC-07 on December 30, 2025. The company received the order on December 31, 2025. The updated demand breakdown shows a significant increase from the previous amount:

Nature of Violations

The tax demand order arose from the conclusion of audit proceedings, with the dispute covering multiple areas of GST compliance. The violations include discrepancies related to Input Tax Credit (ITC) on imports, place of supply mismatches, outward liability declared in GSTR1 returns, and ITC reversal on credit notes. This represents a broader scope compared to the initial dispute which focused primarily on GSTR1 versus GSTR3B discrepancies.

Issuing Authority Details

The order was issued by the Office of Deputy Excise and Taxation Commissioner, SGST, Gurugram (East), Government of Haryana, located at 2nd Floor, Sansadhan Bhawan, Sector-32, Gurugram. This represents an escalation in the authority level handling the case.

Company's Response and Impact Assessment

Aditya Birla Fashion and Retail Limited maintains that the demand will have no impact on its financial position, operations, or other business activities. The company firmly believes that the tax demand is not legally tenable under current law. Management has indicated its intention to file a suitable appeal against the order before "The Appellate Authority" to contest the enhanced demand.

Regulatory Compliance

The disclosure was made in compliance with SEBI Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The filing was signed by Rajeev Agrawal, Company Secretary & Compliance Officer (ACS 18877), ensuring proper regulatory adherence and transparency with stakeholders.

Piramal Investment and Industries Corporation Limited has disclosed a substantial acquisition of shares in Aditya Birla Fashion and Retail Limited under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition increases Piramal's shareholding in the fashion retailer from 3.67% to 5.67%.

Acquisition Details

The transaction involved the purchase of 2.44 crore equity shares through open market operations. The acquisition was executed across multiple trading sessions between December 23-29, 2025.

Shareholding Pattern Changes

The acquisition has resulted in a significant change in Piramal's shareholding pattern in Aditya Birla Fashion and Retail Limited.

Transaction Timeline

The share acquisition was completed through multiple transactions over four trading days:

• December 23, 2025: 81,00,000 equity shares
• December 24, 2025: 61,00,000 equity shares
• December 26, 2025: 81,00,000 equity shares
• December 29, 2025: 21,00,000 equity shares

Company Structure and Compliance

Piramal Investment and Industries Corporation Limited belongs to the promoter/promoter group category of Aditya Birla Fashion and Retail Limited. The target company's shares are listed on both BSE Limited and National Stock Exchange of India Limited.

The equity share capital of Aditya Birla Fashion and Retail Limited stands at ₹1,220.29 crores, comprising 122.02 crore equity shares of ₹10.00 each, fully paid up. Following this acquisition, the total promoter/promoter group shareholding has increased from 46.61% to 46.62%.

The disclosure was filed in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring transparency in substantial shareholding changes.