Vedant Fashions reschedules investor meetings amid GST tax order

Vedant Fashions Limited, trading as Manyavar, has rescheduled its investor and analyst meetings. The meeting set for December 1, 2025, will now occur on December 3, 2025, and the meeting on December 4, 2025, is moved to December 12, 2025. Both rescheduled meetings will be conducted virtually as one-to-one interactions. The company reiterated that no unpublished price sensitive information would be discussed, with discussions based solely on publicly available information.

The rescheduling announcement coincides with the disclosure of an Order-in-Original received from the Office of the Deputy Commissioner of CGST, Division-X, Mumbai West. The order, dated November 20, 2025, and received on December 1, 2025, concerns the recovery of ₹1,73,471 in ineligible Input Tax Credit (ITC), along with applicable interest and penalties. Penalties include ₹1,73,471 under GST laws for the ITC amount, and additional penalties of ₹50,000 for IGST, ₹25,000 for CGST, and ₹25,000 for SGST.

This order stems from alleged violations under Sections 50, 74, 122, and 125 of the CGST Act, 2017, and corresponding sections of the SGST Act, 2017, and IGST Act, 2017. The periods covered are FY 2017-18, FY 2018-19, and FY 2019-20. The company stated that, apart from these financial impacts, there is no other effect on its operations and plans to evaluate the order and take appropriate action.