Vishal Mega Mart Limited (NSE: VMM, BSE: 544307) has informed stock exchanges that its subsidiary, The Assistant Labour Commissioner Court in Sultanpur, Uttar Pradesh, has issued an order to Airplaza Retail Holdings Private Limited in accordance with the 1948 Minimum Wages Act. The order, dated June 24, 2025, mandates recovery of ₹11,60,696 from the subsidiary for wages paid below the prescribed minimum standards to eleven employees.
Details of the Labour Compliance Order
The Labour Inspector had filed a case against Airplaza Retail Holdings on October 26, 2024, alleging violations under Section 20(2) of the Minimum Wages Act, 1948. The court’s order requires payment of the recovery amount, which represents the difference between the wages paid and the statutory minimum wages for the affected employees.
Advertisement
Vishal Mega Mart’s official disclosure, filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirms that the financial impact of the order is limited to the amount specified. The company stated there is no material impact on its operations or other activities as a result of this order. The subsidiary is currently reviewing the order and evaluating its next steps.
Corporate and Regulatory Compliance
The disclosure, signed by Rahul Luthra, Company Secretary & Compliance Officer, emphasizes the company’s commitment to regulatory transparency. The notice highlights that the order pertains solely to the subsidiary and does not affect the broader operations or financial health of Vishal Mega Mart Limited.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
