Eicher Motors Subsidiary Receives Demand Order of ₹96.18 Crore
VE Commercial Vehicles Limited, a subsidiary of Eicher Motors, received a demand order of ₹96.18 Crores plus penalty and interest. This is related to a prior show cause notice for FY 2017-18. VECV plans to appeal the order, stating it has no financial or operational impact.
The company has stated that the demand order will not have any impact on its financial, operational, or other activities. Furthermore, they plan to appeal the order, suggesting a low likelihood of significant financial consequence.
The announcement reports a demand order, which is typically negative. However, the amount is significantly lower than initially proposed, and the company plans to appeal, believing the order has no merit. The company also explicitly states no financial or operational impact.
Eicher Motors Limited has provided an update regarding a demand order received by its material subsidiary, VE Commercial Vehicles Limited (VECV). On December 29, 2025, VECV received a demand order from the Commissioner, CGST & Central Excise, Ujjain Commissionerate, Madhya Pradesh.
This order pertains to a show cause notice (SCN) initially issued on July 10, 2025, concerning alleged contraventions of the CGST Act, 2017, for the Financial Year 2017-18. The SCN involved a GST amount of ₹168.19 Crores and an equivalent penalty. VECV had submitted its response to the SCN.
Following adjudication, the demand order confirmed a demand of ₹96.18 Crores (reduced from ₹168.19 Crores) along with an equivalent amount for penalty and applicable interest. The alleged contravention relates to the delay in reporting credit notes for FY 2017-18.
VECV believes the order lacks merit and plans to file an appeal. The company stated that this demand order has no impact on its financial, operational, or other activities.
What to do with a filing like this
Eicher Motors Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Eicher Motors Limited. Read the original for the full detail.