Popular Vehicles and Services logo

Popular Vehicles and Services MD, chairman, board of directors and AGM

NSE: PVSLBSE: 544144AutomobilesSmall Cap

Last close ₹91.24down ₹1.20 (1.30%)BSE ₹90.20

Share price at the NSE close on 23 Oct 2026. Previous close ₹92.44.

52-week range of traded prices to 23 Oct 2026
₹82.41Low, 16 Mar 2026₹158.00High, 4 Nov 2025
Market cap
₹650 Cr1,669th largest listed
P/E
Lossover the last 12 months
P/B
1.0
Dividend yield
Nonein the last 12 months
ROE
−0.4%
ROE without one-offs
−2.6%
ROCE
5.1%
Debt to equity
1.11
Volume, NSE
14,27071.6% delivered

Popular Vehicles and Services board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonJacob Kurian
  • Company Secretary and Compliance OfficerVARUN T.V

7 directors5 independent2 executive

  • Jacob Kurian · ChairpersonIndependent · joined Jan 2019 · reappointed Jan 2024 · 89 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Preeti ReddyIndependent · joined Jan 2019 · reappointed Jan 2024 · 89 months as independent · 4 listed boards · 4 as independent · 3 committee seats, 1 as chair
  • George JosephIndependent · joined Jul 2021 · reappointed Jul 2024 · 23 months as independent · 2 listed boards · 2 as independent · 6 committee seats, 4 as chair
  • Neeraj JainIndependent · joined Sep 2025 · reappointed Sep 2025 · 9 months as independent · 4 listed boards · 4 as independent · 8 committee seats, 3 as chair
  • Murali Narayanan ChinnasamyIndependent · joined Dec 2025 · reappointed Dec 2025 · 6 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • John Kuttukaran PaulExecutive · joined Jun 1983 · reappointed Mar 2026 · 1 listed board · 2 committee seats
  • Naveen PhilipExecutive · joined Apr 2018 · reappointed Jun 2022 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

2 directors who left
  • Francis Kuttukaran Paul, left 31 Mar 2026: Tenure Completion
  • Rakesh Kumar Bhutoria, left 8 Dec 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 26 May 20267 of 7 present5 independent · 55 days in between
    • 31 Mar 20268 of 8 present5 independent · 48 days in between
    • 10 Feb 20267 of 8 present4 independent

  • Audit Committee

    Chair Neeraj Jain

    George Joseph, Jacob Kurian, Preeti Reddy

    • 26 May 20264 of 4 present4 independent · 55 days in between
    • 31 Mar 20264 of 4 present4 independent · 48 days in between
    • 10 Feb 20263 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Preeti Reddy

    Jacob Kurian, Neeraj Jain

    • 26 May 20263 of 3 present3 independent · 104 days in between
    • 10 Feb 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair George Joseph

    Preeti Reddy, Naveen Philip, John Kuttukaran Paul, Murali Narayanan Chinnasamy

    • 26 May 20265 of 5 present3 independent

  • Risk Management Committee

    Chair Murali Narayanan Chinnasamy

    Neeraj Jain, George Joseph, Naveen Philip

    • 26 May 20264 of 4 present3 independent

  • Corporate Social Responsibility Committee

    Chair John Kuttukaran Paul

    Jacob Kurian, Naveen Philip

    • 31 Mar 20263 of 3 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • BSR & Associates LLPPeer-review certificate valid to Jul 2028
1 earlier auditor
  • B S R & Associates LLPNamed in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Popular Vehicles and Services AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Popular Vehicles and Services dividend history

Annual general meeting, 28 Aug 2026

56,571 shareholders on the register on 21 Aug 2026; present: 3 promoters and 56 others; votes counted by MYLADOOR CHERIAN SAJUMON / MYLADOOR CHERIAN SAJUMON.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2026 together with the Reports of the Board of Directors and Auditors thereon and the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2026 with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 81.01% · promoters 99.69% · institutions 96.43% · other public 35.32%

  2. To appoint a Director in place of Mr. John K. Paul (DIN: 00016513), who retires by rotation and, being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 81.01% · promoters 99.69% · institutions 96.43% · other public 35.32%

  3. To appoint M/s. MSKA & Associates LLP (Formerly known as MSKA & Associates), Chartered Accountants (ICAI Firm Registration Number: 105047W / W101187) as Statutory Auditors of the Company for 5 years.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 81.01% · promoters 99.69% · institutions 96.43% · other public 35.32%

  4. To appoint Mr. Paul Francis Kuttukaran (DIN: 11727635) as a Non-Executive Non-Independent Director of the Company
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 81.01% · promoters 99.69% · institutions 96.43% · other public 35.32%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 28 Mar 2026, 1 resolution

59,065 shareholders on the register on 20 Feb 2026; votes counted by Myladoor Cherian Sajumon / Myladoor Cherian Sajumon.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. John Kuttukaran Paul (DIN:00016513) as the Whole-Time Director of the Company
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 81.01% · promoters 100.00% · institutions 93.39% · other public 35.50%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 29 Dec 2025, 1 resolution

61,141 shareholders on the register on 25 Nov 2025; votes counted by MYLADOOR CHERIAN SAJUMON / MYLADOOR CHERIAN SAJUMON.The company's voting result (opens in a new tab)

  1. To appoint Mr. Murali Narayanan (DIN: 11356917) as an independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.91% · other public 36.18%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 29 Sep 2025, 10 resolutions

63,805 shareholders on the register on 22 Sep 2025; present: 3 promoters and 53 others; votes counted by MYLADOOR CHERIAN SAJUMON / MYLADOOR CHERIAN SAJUMON.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025 together with the Reports of the Board of Directors and Auditors thereon and the audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  2. To appoint a Director in place of Mr. Francis K. Paul (DIN: 00018825), who retires by rotation and, being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  3. To fix remuneration of Statutory Auditors.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  4. To appoint Secretarial Auditor
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  5. To appoint Mr. Neeraj Jain as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  6. Approval of one or more employee stock option schemes to be offered to the employees of the company directly or through an irrevocable trust.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  7. Approval of one or more employee stock option schemes to be offered to the employees of the present or future subsidiaries or associate companies of the company, directly or through an irrevocable trust.MoreLess
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  8. Approval for the grant of options to identified employees in any one year, equal to or exceeding one percent of the issued capital, under the employee stock option scheme.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  9. Establishment of an irrevocable trust and authorization for secondary acquisition of shares for implementing an employee stock option scheme.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

  10. Grant of financial assistance/provision of money by the company to the trust to fund the acquisition of its equity shares, in terms of the employee stock option scheme.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 80.96% · promoters 100.00% · institutions 87.78% · other public 36.20%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 4 Jul 2025, 2 resolutions

65,685 shareholders on the register on 30 May 2025; votes counted by MYLADOOR CHERIAN SAJUMON / MYLADOOR CHERIAN SAJUMON.The company's voting result (opens in a new tab)

  1. To approve the disinvestment of shares of Vision Motors Private Limited
    SpecialPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 19.83% · promoters 0.00% · institutions 83.58% · other public 37.10%

  2. To approve disinvestment of shares of Kuttukaran Green Private Limited
    SpecialPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 19.83% · promoters 0.00% · institutions 83.58% · other public 37.10%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 24 Sep 2024, 5 resolutions

Present: 3 promoters and 52 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Reports of the Board of Directors and Auditors thereon and the audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 with the Report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 86.75% · promoters 100.00% · institutions 87.92% · other public 47.56%

  2. To appoint a Director in place of Mr. Naveen Philip (DIN: 00018827), who retires by rotation and, being eligible, offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 86.75% · promoters 100.00% · institutions 87.92% · other public 47.56%

  3. To declare final dividend of Rs. 0.50 per equity shares for the financial year ended 31st March 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 86.75% · promoters 100.00% · institutions 87.92% · other public 47.56%

  4. To fix remuneration of Statutory Auditors.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 86.75% · promoters 100.00% · institutions 87.92% · other public 47.56%

  5. To increase managerial remuneration payable to the Executive Directors in excess of 5% of the net profits of the Company.
    SpecialPromoters have an interest in it
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 86.75% · promoters 100.00% · institutions 87.92% · other public 47.56%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 11 Jul 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Appointment of Mr. George Joseph (DIN: 00253754) as Non-Executive - Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.75%

    Turnout: all 74.30% · promoters 100.00% · institutions 74.71% · other public 0.27%

  2. Re-appointment of Mr. John K. Paul (DIN: 00016513) as Whole Time Director of the Company
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.32%

    Turnout: all 74.30% · promoters 100.00% · institutions 74.71% · other public 0.27%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 28 Mar 2026, 1 fund house

  • Re-appointment of Mr. John Kuttukaran Paul (DIN:00016513) as the Whole-Time Director of the Company
    1 for0 against

Mutual fund votes, meeting of 29 Dec 2025, 1 fund house

  • To appoint Mr. Murali Narayanan (DIN: 11356917) as an independent Director of the Company
    1 for0 against
4 earlier meetings

Mutual fund votes, meeting of 29 Sep 2025, 1 fund house

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025 together with the Reports of the Board of Directors and Auditors thereon and the audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025 with the Report of the Auditors thereon.MoreLess
    1 for0 against
  • To appoint a Director in place of Mr. Francis K. Paul (DIN: 00018825), who retires by rotation and, being eligible, offers himself for re-appointment.
    1 for0 against
  • To fix remuneration of Statutory Auditors.
    1 for0 against
  • To appoint Secretarial Auditor
    1 for0 against
  • To appoint Mr. Neeraj Jain as an Independent Director of the Company
    1 for0 against
  • Approval of one or more employee stock option schemes to be offered to the employees of the company directly or through an irrevocable trust.
    1 for0 against
  • Approval of one or more employee stock option schemes to be offered to the employees of the present or future subsidiaries or associate companies of the company, directly or through an irrevocable trust.MoreLess
    1 for0 against
  • Approval for the grant of options to identified employees in any one year, equal to or exceeding one percent of the issued capital, under the employee stock option scheme.
    1 for0 against
  • Establishment of an irrevocable trust and authorization for secondary acquisition of shares for implementing an employee stock option scheme.
    1 for0 against
  • Grant of financial assistance/provision of money by the company to the trust to fund the acquisition of its equity shares, in terms of the employee stock option scheme.
    1 for0 against

Mutual fund votes, meeting of 4 Jul 2025, 1 fund house

  • To approve the disinvestment of shares of Vision Motors Private Limited
    1 for0 against
  • To approve disinvestment of shares of Kuttukaran Green Private Limited
    1 for0 against

Mutual fund votes, meeting of 24 Sep 2024, 3 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2024 together with the Reports of the Board of Directors and Auditors thereon and the audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2024 with the Report of the Auditors thereon.MoreLess
    2 for0 against
  • To appoint a Director in place of Mr. Naveen Philip (DIN: 00018827), who retires by rotation and, being eligible, offers himself for re-appointment.
    2 for0 against
  • To declare final dividend of Rs. 0.50 per equity shares for the financial year ended 31st March 2024.
    2 for0 against
  • To fix remuneration of Statutory Auditors.
    2 for0 against
  • To increase managerial remuneration payable to the Executive Directors in excess of 5% of the net profits of the Company.
    2 for0 against
1 proposal not matched to one resolution
  • 1. To receive, consider and adopt the Audited Standalone & Consolidated Financial Statements of the Company for the FY ended 31st March, 2024 together with the Reports of the Board of Directors and Auditors thereon 2. To appoint a Director in place of Mr. Naveen Philip (DIN: 00018827), who retires by rotation and, being eligible, offers himself for re-appointment 3. To declare final dividend of Rs. 0.50 per equity shares for the financial year ended 31st March 2024 4. To fix remuneration of Statutory Auditors and in this regard to consider and if thought fit, to pass with or without modification(s) 5. To increase managerial remuneration payable to the Executive Directors in excess of 5% of the net profits of the CompanyMoreLess
    1 for0 against

Mutual fund votes, meeting of 11 Jul 2024, 3 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • Appointment of Mr. George Joseph (DIN: 00253754) as Non-Executive - Independent Director of the Company
    2 for0 against
  • Re-appointment of Mr. John K. Paul (DIN: 00016513) as Whole Time Director of the Company
    2 for0 against
1 proposal not matched to one resolution
  • 1.APPOINTMENT OF MR. GEORGE JOSEPH (DIN: 00253754) AS NON-EXECINDEPENDENT DIRECTOR OF THE COMPANY 2. RE-APPOINTMENT OF MR. JOHN K. PAUL (DIN: 00016513) AS WHOLE-TIM OF THE COMPANY
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Fines and tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Fine or penaltyArakuzha Grama PanchayatSince 24 Jun 2026

    Company received a notice from Arakuzha Grama Panchayat

    Violation regarding Leakage of Non-Hazardous Wastewater into the neighboring property
  • Tax dispute1) State of Kerala, Secretary to Government, Taxes Department 2)Assistant Commissioner, Special Circle-1, Commercial Taxes, ErnakulamSince 23 Jul 2015
    The Hon'ble High Court granted stay on the order and the same is pending for disposal. There is no change from the previous disclosure.
    At the filing before: In the matter of Popular Mega Motors (India) Private Limited (PMMIL) (Wholly Owned Subsidiary): Assessment order was issued by the Department for the Financial Year 2008-09. The main allegations are: (a) Intra-State Stock Transfer Assessed, (b) Difference in Intra-State Sales Turnover, and (c) Warranty Claims Assessed. PMMIL filed a writ petition before the Hon'ble High Court challenging the said order. The appeal grounds are: (a) Assessment was done after the expiry of the period as prescribed under the KVAT Act (time-barred by limitation), and (b) Merit of the case. The Court favourably decided similar cases in favour of the assessees, and the Department filed appeals before the Division Bench against the said judgments. In our case, the appeal filed by the Department was under consideration before the Hon'ble Court. The Court granted a stay in the subject matter, and the same has been pending for disposal for over a period of 3 years.MoreLess
  • Tax dispute1) State of Kerala, Secretary to Government, Taxes Department 2)Assistant Commissioner , Special Circle-1, Commercial Taxes, ErnakulamSince 26 Dec 2016
    The Hon'ble High Court granted stay on the order and the same is pending for disposal. There is no change from the previous disclosure.
    At the filing before: In the matter of Popular Mega Motors (India) Private Limited (PMMIL) (Wholly Owned Subsidiary): Assessment order was issued by the Department for the Financial Year 2011-12. The main grounds of the order are: (a) Warranty & Free Service Labour Claim Rejected, (b) Difference in Sales Turnover Assessed, (c) Intelligence order Cases Assessed, (d) Sales Return Claim Rejected, (e) Sales of Fixed Asset Assessed at Higher Rate, (f) Interstate Purchase Return Claim Rejected, and (g) Turnover of Discount and Incentive Assessed. PMMIL filed a writ petition before the Hon'ble High Court of Kerala, challenging the order on the ground that the order was passed without considering the documents submitted by the Company, receipt of which was acknowledged by the Assessing Officer. Stay granted by the Hon'ble Court for further proceedings. The matter is still pending before the Hon'ble Court for disposal.MoreLess
  • Tax dispute1) State of Kerala, Secretary to Government, Taxes Department 2)Assistant Commissioner , Special Circle-1, Commercial Taxes, ErnakulamSince 27 Mar 2017
    The Hon'ble High Court granted stay against the order and the case was transferred to Division Bench for disposal. There is no change from the previous disclosure.
    At the filing before: In the matter of Popular Mega Motors (India) Private Limited (PMMIL) (Wholly Owned Subsidiary of the Company): Assessment order was issued by the Department for the Financial Year 2009-10. Main allegations are: (a) Warranty and Free Service Claim Rejected and Assessed, (b) Other Income Assessed, and (c) Discount Received from the Manufacturer Assessed. PMMIL filed a writ petition before the Hon'ble High Court challenging the said order. Appeal Grounds are: (a) Assessment was done after the expiry of the period as prescribed under the KVAT Act (Time barred by limitation), and (b) Merit of the case. The Court favourably decided the similar cases in favour of Assessees and the Department filed appeal before the Division Bench against the said Judgments. The Hon'ble Court granted stay against the order and the case was transferred to the Division Bench for disposal.MoreLess
  • Tax disputeState Tax Officer, KK Nagar Assessment Circle , ChennaiSince 27 Dec 2023
    Appeal filed against the order before the First Appellate Authority on 5th April 2025.There is no change from the previous disclosure.
    At the filing before: In the matter of Popular Mega Motors (India) Private Limited (PMMIL) (Wholly Owned Subsidiary): Order issued under Section 73 of the TNGST Act for the Financial Year 2021-22. Main allegations are: (1) Excess Availing of ITC, and (2) Availing Ineligible ITC. Order issued under Section 73 of TNGST Act against the PMMIL. The tax impact with interest and penalty was Rs. 12,65,61,583/- (Rupees Twelve Crores Sixty Five Lakhs Sixty One Thousand Five Hundred and Eighty Three Only). The company has filed an appeal before the First Appellate Authority on 5th April 2025.MoreLess
  • Tax disputeState Tax Officer, KK Nagar Assessment Circle , ChennaiSince 29 Dec 2023
    Appeal filed before the first Appellate Authority and the matter is pending. There is no change from the previous disclosure
    At the filing before: In the matter of Popular Mega Motors (India) Private Limited (PMMIL) (Wholly Owned Subsidiary):An order under Section 73 was issued for the Financial Year 2017-18 alleging (i) excess availment of Input Tax Credit (ITC) and (ii) availment of ineligible ITC. The total tax demand, including interest and penalty, amounts to Rs. 2,44,47,496 (Rupees Two Crores Forty-Four Lakhs Forty-Seven Thousand Four Hundred and Ninety-Six Only). PMMIL submitted all relevant documents along with a reconciliation statement demonstrating that there was no excess availment of ITC. However, the Assessing Officer issued the order without considering the submissions. PMMIL filed an appeal before the First Appellate Authority on 27th March 2024, and the matter is currently pending.MoreLess
  • Tax disputeVijayakumar R Assistant Commissioner Hqrs, Review cell Tamil NaduSince 27 Sep 2024
    Awaiting fresh order from the Department. No update has been received as of now.
    At the filing before: In the matter of Prabal Motors Private Limited (PMPL) (Subsidiary): PMPL received a Show Cause Notice from Additional Commissioner, Central Goods and Services Tax, Coimbatore dated 28/12/2023 alleging a difference of Rs.13.58 Crores between GSTR-2A and GSTR-3B for the financial year 2018-19. The difference was caused by an error made by Daimler India Commercial Vehicles Pvt. Ltd. Wherein the OEM incorrectly reported invoices for February and March 2019 under the taxpayer's old GSTIN and later corrected the mistake in May 2019 by amending the GSTR-1 returns. As a result, a mismatch arose between GSTR-2A and GSTR-3B. Drop Order Received on 28/03/2024. Form GST APL-03 Received on 27/09/2024. Order received on 11/06/2025. Review is allowed. The adjudicating authority is directed to comply with the direction of the CBIC Circular No.183115/2022-GST dated 27.12.2022 and pass a fresh order as per law.MoreLess
  • Tax disputeAlok Singh Chauhan. Superintendent Arasur Range CoimbatoreSince 21 Apr 2025
    Appeal Filed on 23/01/2026 The physical copies of the appeal, along with supporting documents, have been submitted to the department on 27/01/2026. Form GST APL-02, Acknowledgement for submission of Appeal, received on 05/02/2026. The Department will issue the Personal Hearing notice with the date and time. No update has been received from the Department as of nowMoreLess
    At the filing before: In the matter of Prabal Motors Private Limited (PMPL) (Subsidiary): PMPL Received Order on 13-12-2025 from the office of Assistant Commissioner Coimbatore IV Division raising demand of tax of Rs.1,00,83,198/- and Penalty of Rs.10,08,020/- with Applicable Interest. however company has decided to file an appeal against the said order.MoreLess
1 more
  • Tax disputeGovernment of Karnataka Commercial Taxes DepartmentSince 17 Sep 2025
    Appeal Filed on 04-03-26 with 10% Predeposit of Rs. 9,86,879.20 and APL-02 received.no further intimation or notice regarding the next hearing date has been received to date
    At the filing before: In the matter of Popular Autodealers Private Limited (PADL) (Wholly owned subsidiary): Order under DRC-07 issued on 05/12/2025 for Rs. 1,72,31,450 (Tax Rs. 98,72,946, Interest Rs. 63,69,274, Penalty Rs. 9,89,230) in connection with GSTR-9C Turnover Reconciliation Mismatch, Inward Suppression, Non-payment of RCM on Legal Charges and Directors' Loan, and Ineligible ITC Claimed. Audit findings were issued under Section 65(6) of the Act on 16.08.2025. Assignment under Section 73 was issued by the JCCT (Admin), DGSTO-4, Bangalore vide KGAIN No. 7432 dated 03.09.2025. Form DRC-01A was issued on 10.09.2025. PADL submitted its reply. Show Cause Notice in Form DRC-01 was issued by the Department on 17.09.2025. PADL submitted its reply to the Department on 15.10.2025 along with supporting documents. Personal hearing was conducted on 30.10.2025MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
No
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it.