Omax Autos Limited has announced the resignation of its internal auditor M/s. Singh Chugh & Kumar, Chartered Accountants, effective January 14, 2026. The company informed both the National Stock Exchange of India and BSE Limited about this development in compliance with regulatory disclosure requirements.

Internal Auditor Resignation Details

The internal audit firm M/s. Singh Chugh & Kumar, bearing Firm Registration No. 013613N, submitted their resignation letter on January 14, 2026. The resignation became effective immediately from the close of business hours on the same date.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has complied with multiple regulatory circulars including:

• SEBI Circular No. SEBI/HO/CFD/CFD-POD-1/P/CIR/2023/123 dated July 13, 2023
• Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024

Disclosure Framework

As per regulatory requirements, the company provided comprehensive details about the resignation in Annexure-A format. The disclosure confirmed that the change was due to resignation rather than removal, death, or other circumstances. The firm had been appointed as Internal Auditors specifically for the Financial Year 2025-26.

Corporate Communication

The intimation was signed by Kannu Sharma, Company Secretary and Compliance Officer of Omax Autos Limited, and was digitally signed on January 14, 2026. The communication was addressed to the listing departments of both NSE (Code: OMAXAUTO) and BSE (Code: 520021), ensuring proper notification to all relevant stock exchanges where the company's shares are listed.

Omax Autos Limited , a prominent player in the automotive components sector, has received a significant reprieve from tax authorities. The company announced that the Commissioner (Appeals), Custom, GST & Central Excise, Lucknow has dropped penalty proceedings related to an alleged GST liability on Long Member components.

Key Details of the Order

Impact on Omax Autos

The company has stated that this development will not have any impact on its financial or operational activities. This is because the potential liability had already been disclosed as a contingent liability in the company's financial statements, demonstrating prudent financial management and transparency in reporting.

Background of the Case

The tax authorities had initially alleged that Omax Autos failed to include the Long Member components in the taxable value of supply, which was detected during an audit. The allegation also included claims of suppression of material facts with intent to evade tax, potentially contravening Section 74(1) of the CGST Act, 2017.

Implications

This favorable order provides relief to Omax Autos from what could have been a substantial financial burden. It also underscores the importance of proper disclosure and accounting practices, as the company's proactive approach in reporting this as a contingent liability has now been vindicated.

The dropping of these proceedings may boost investor confidence in Omax Autos' financial management and regulatory compliance practices. However, it's important to note that this development does not necessarily reflect on the company's operational performance or future financial outlook.

As the automotive sector continues to navigate complex regulatory environments, this case serves as a reminder of the potential financial and reputational risks associated with tax disputes, and the importance of robust compliance mechanisms for manufacturing companies.