Key Event Details

The matter pertains to an inquiry initiated by the Special Intelligence & Investigation Branch, Customs, Indore under Section 108 of the Customs Act, 1962. The inquiry concerned imports undertaken by the Company under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). The Company confirms that no show cause notice, demand order, adjudication order, or penalty order had been issued by the Customs Department in relation to this inquiry.

Timeline of Events

The Company received Summons under Section 108 of the Customs Act, 1962 on July 24, 2026 (Summons dated July 23, 2026). Following receipt, the Company conducted a detailed internal review involving examination of underlying facts, financial implications, supporting documents, and legal position. The matter involved multiple import consignments across two ports, requiring verification and reconciliation of records, including a correction for one consignment.

Financial Impact and Resolution

The reconciliation process was completed on July 29, 2026, which finalized the aggregate quantum of ₹20,64,17,893 voluntarily paid by the Company. The Company was concurrently in discussions with the overseas supplier of the imported goods for recovery of this amount. A debit note was issued to the supplier on August 10, 2026, formalizing the recovery action.

Disclosure Timing

The Company's comprehensive assessment for Regulation 30 disclosure purposes, including financial particulars and recovery action, was finalized on August 10, 2026, and the disclosure was made accordingly on that date. The Company acknowledges that this disclosure exceeded the 24-hour timeline prescribed under Regulation 30 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Statement on Delay

The delay was neither deliberate nor attributable to any intent to withhold material information from the market. It was occasioned by the time required to ascertain and finalize complete facts and financial particulars across multiple consignments and locations. The Company reaffirms its commitment to highest standards of corporate governance, transparency, and regulatory compliance, and pledges to implement appropriate internal escalation processes to ensure timely disclosures in accordance with SEBI Listing Regulations.

Signatory and Company Details

The clarification is signed by Deepak Sharma, Company Secretary & Compliance Officer (Membership No: A48707) on behalf of Manorama Industries Limited. Company registration details: CIN L15142MH2005PLC243687, GSTIN 22AAECM3726C1Z1 (Corporate Office) and 27AAECM3726C1ZR (Registered Office).

#Tags: #ManoramaIndustries #SEBIRegulation30 #CustomsInquiry #RegulatoryCompliance #Neutral