Vishal Mega Mart Ltd. ( (IN:VMM) ) has provided an announcement.
Vishal Mega Mart Limited has announced that its subsidiary, Airplaza Retail Holdings Private Limited, received an order from the Assistant Labour Commissioner Court in Kasganj, Uttar Pradesh, regarding a violation under the Minimum Wages Act, 1948. The court has directed the recovery of ₹12,90,146 due to this violation. While the financial impact is limited to the penalty amount, the company reports no significant effect on its operations or other activities. The subsidiary is currently reviewing the order to determine the next steps.
More about Vishal Mega Mart Ltd.
Vishal Mega Mart Limited operates in the retail industry, offering a wide range of consumer goods through its chain of stores across India. The company focuses on providing affordable products to a diverse customer base, enhancing its market presence in the competitive retail sector.
YTD Price Performance: -1.37%
Average Trading Volume: 1,183,129
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