In terms of Regulation 30 and Schedule III to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ), read with the SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 ( SEBI Master Circular ), this is to inform you that the Company has received a show cause notice from the Office of Regional Provident Fund Commissioner- I/OIC , Regional Office, Delhi-East on August 27, 2025.
EVERESTIND · price
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Everest Industries has received a show cause notice from the Regional Provident Fund Commissioner in Delhi-East dated August 27, 2025. The EPFO has raised several claims related to provident fund compliance, including short deposits, pending securities transfers, TDS amounts, interest on bonds, and investment pattern violations, totalling Rs. 5.18 crore. Of this, the company has already paid Rs. 2.05 crore. The remaining disputes involve issues dating back to 2017-18, including interest of Rs. 39.51 lakh on IL&FS, Sintex, and DHFL bonds. The company has stated it has strong legal grounds and will contest the notice, asserting there is no material impact on its financial or operational activities.
This is a routine regulatory compliance matter involving provident fund contributions. The total claim of Rs. 5.18 crore is relatively small and the company has already paid Rs. 2.05 crore. Shareholders are unlikely to see a significant impact, but a negative outcome in adjudication could result in additional payments.