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Vikas Ecotech Limited has issued a media release to clarify its position regarding recent media reports that linked the company and its promoters to an Enforcement Directorate (ED) investigation concerning alleged decade-old export-import transactions involving unrelated third parties.

The company unequivocally states that the investigation pertains solely to entities and individuals with whom Vikas Ecotech has had no dealings, interests, or association. It asserts that any reference to the company in these reports stems from questionable and unreliable inputs, including false, unverified, and allegedly manipulated documents. The company has obtained authentic ownership and beneficial interest records from credible independent agencies, which demonstrate that neither Vikas Ecotech nor its promoters, officers, members, or employees have any connection with the entities or individuals under investigation.

In continuation of its earlier disclosure and in compliance with the directions of the Hon’ble High Court of Gujarat, Vikas Ecotech and its Promoters Group have initiated multiple legal remedies. These include filing proceedings before the Hon’ble Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Mumbai, seeking appropriate relief and a formal declaration of non-involvement. Additionally, civil and criminal proceedings have been initiated in the United Arab Emirates against the actual individuals and beneficial owners responsible for the disputed and misleading documents.

Vikas Ecotech Limited reaffirms its commitment to the highest standards of governance, transparency, and regulatory compliance. The company is actively cooperating with all authorities while pursuing all remedies available under law. This clarification is issued voluntarily to ensure transparency and curb unwarranted speculation. The company confirms that these developments have no impact on its operations, financial position, or strategic outlook, and advises stakeholders to rely solely on official disclosures.