Nature of Disclosure: Regulatory filing pursuant to Regulation 30 of SEBI Listing Regulations, providing an update to a previous intimation (Letter No. RKL/SX/2026-27/76 dated October 27, 2026).
Key Event: The Directorate of Revenue Intelligence (DRI), Department of Revenue, Government of India, has issued seizure memos under Section 110 of the Customs Act, 1962.
Details of Action:
- The seizure memos pertain to goods valued at approximately ₹2.64 crore.
- The memos were issued on Friday, November 06, 2026, at 19:21 P.M.
Reason for Delay in Reporting: The delay in reporting this event is stated to be unintentional, attributed to the Diwali holidays. The issue was promptly actioned once it was brought to the notice of the appropriate company executives.
Nature of the Contravention: The matter relates to an industry-wide issue concerning the customs tariff classification of certain imported goods and the preferential tariff treatment under the India–United Kingdom (UK) Free Trade Agreement.
Industry Context: The industry association discussed this issue with the Ministry of Commerce on November 02, 2026, wherein assurance was provided for an earliest resolution of the matter.
Financial and Operational Impact: The company states it is taking necessary steps to continue normal operations and that, as of now, there is no material impact or disruption to its business. The financial impact is quantified for the seized goods (₹2.64 crore) but is not considered material to overall operations.
Company's Response: The company is confident of an early resolution and continues to engage with the concerned authorities. It is taking necessary steps to seek the release of the goods as per Customs Regulations.
Regulatory Reference: This disclosure is made under Part A, Para A of Schedule III of the SEBI (LODR) Regulations, 2015.