Kindly find the enclosed disclosure as per Regulation 30 of SEBI (LODR)Regulation,2015
Awaiting price reaction for this filing.
Gopal Iron and Steels Company (Gujarat) Ltd (BSE: 531913) has received a Show Cause Notice (SCN) from the Employees' Provident Fund Organization under Sections 14B and 7Q of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, for alleged failure to pay PF arrears. The amount involved is ₹1,28,08,900 (approximately ₹1.28 crore). The disclosure was made on 29th May 2025 under Regulation 30 of SEBI (LODR) Regulations, 2015. The company has stated it does not agree with the SCN and intends to file objections. The maximum financial impact is limited to the amount demanded by the authorities.
This is a negative compliance event with a quantifiable liability of ~₹1.28 crore. While the company plans to contest the notice, shareholders should monitor the outcome as it could affect profitability if the demand is upheld.