Timex Group has received confirmation that the tax authority has concluded all legal actions against the company. This development marks the end of legal proceedings that were previously ongoing between the company and tax authorities.

Legal Resolution

The conclusion of these legal matters represents a significant development for the consumer durables company. The end of all legal actions by the tax authority provides clarity on the company's legal standing with tax authorities.

Impact on Operations

With the resolution of these legal matters, the company can now focus on its core business operations without the uncertainty of ongoing legal proceedings. This closure of legal issues removes a potential overhang that may have affected business planning and operations.

Timex Group India Limited has officially disclosed the resignation of Varun Malik, General Manager-Marketing and Senior Management Personnel, through a regulatory filing under SEBI Listing Regulations. The resignation became effective at the close of business hours on December 11, 2025.

Official Regulatory Disclosure

The company filed the disclosure with BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Dhiraj Kumar Maggo, Vice President-Legal, HR and Company Secretary, confirming the formal nature of this leadership change.

Resignation Details

Malik submitted his formal resignation letter on December 01, 2025, addressed to Managing Director Deepak Chhabra. In his resignation letter, Malik stated that the decision came "after careful thought and consideration" and mentioned he is "exploring other professional opportunities that align with my long-term goals."

The resignation letter, attached to the regulatory filing, expressed gratitude for the opportunities provided and appreciation for the support received during his tenure with the company.

Company's Financial Context

This leadership transition occurs as Timex Group India maintains a strong financial position:

The company has demonstrated significant asset growth, particularly in current assets, indicating an expansion phase that makes this marketing leadership change notable for stakeholders.

Regulatory Compliance

The disclosure follows SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and the company's Policy on Determination of Materiality for Disclosure of Events or Information. This filing represents a continuation of the company's previous communication dated December 01, 2025, on the same subject.

Timex Group India Limited, with scrip code 500414 on BSE, is expected to announce succession plans for the marketing leadership role in due course.