Key Details of the Order
- Issuing Authority: The Commissioner of Customs (Preventive), Office of the Commissioner of Customs (Preventive), Trichy, Tamil Nadu.
- Nature of Order: A penalty order issued under Section 114 of the Customs Act, 1962.
- Date of Receipt: The order was received by Sanco Trans Limited on November 06, 2026.
Details of Alleged Violation
The penalty is related to the alleged wrong availment of duty drawback by exporters M/s Starwin Tex. The order was passed under Section 75 and Section 114 of the Customs Act, 1962. Sanco Trans Limited's role in the matter is stated as being a custodian.
Financial and Operational Impact
The disclosed quantifiable financial impact, if the penalty is accepted and paid, is ₹1,00,000 (Rs. 1 Lakh).
Management's Response and Outlook
The management has stated that it is confident of contesting the penalty before the appropriate legal forums. The rationale provided for contesting is that the company was "only a custodian" in the matter.
#Tags: #SancoTrans #CustomsPenalty #SEBIDisclosure #RegulatoryCompliance #Negative