AVSL Industries Recovers Seized Material and Cash in Ongoing Investigation Regarding Stock Discrepancy

AVSL Industries Recovers Seized Material and Cash in Ongoing Investigation Regarding Stock Discrepancy​

AVSL Industries Limited has made progress in a legal matter concerning seized stock following intervention by authorities, as part of an investigation initiated regarding material discrepancies. The company successfully recovered interim custody of 10 metric tons of material along with ₹13,50,000/- cash, though the matter remains under investigation.

The issues began with a consignment of PVC Processing Aid imported by the company. The import consisted of 2,240 bags of the material (Type: ACR901), each weighing 25 kg, aggregating to 56 metric tons. This consignment was valued at ₹72,89,555/- and was stored at a third-party warehouse pending use in business operations.

When AVSL Industries began retrieving the materials in June 2026, the entire consignment could not be located at the warehouse, despite repeated follow-ups with the operator. During a subsequent physical verification, discrepancies in the quantity of the material were noted. Based on these findings, the company suspected that a portion of the material may have been unauthorizedly removed or misappropriated. The company subsequently initiated appropriate legal action and lodged a criminal complaint with relevant authorities.

During the course of the investigation by the concerned authorities, 400 bags of PVC Processing Aid material, amounting to 10 metric tons, were recovered and seized. Authorities also seized cash totaling ₹13,50,000/-, which is reported to represent proceeds arising from the alleged unauthorized sale of a portion of the material.

Following an application by AVSL Industries before a competent Court for interim custody, the recovery of the seized material and cash was granted. The company has since secured interim custody of 10 metric tons of the materials and the aforementioned sum of ₹13,50,000/-.

The management noted that this recovery provides partial relief, but the legal proceedings and the matter remain ongoing. At present, the final quantity of material involved, the total financial impact, and any further recoveries are yet to be determined by competent authorities. AVSL Industries stated it does not expect any immediate adverse financial impact based on current information and confirmed that no allegations presently involve any Director or Key Managerial Personnel of the Company.

AVSL Stock Price Movement​

AVSL Industries Limited finished the trading session today with shares settling at ₹119.70, showing no change from the previous close. The stock notably closed exactly at its 52-week low, holding a key historical marker in the sector.