Nature of Action
The DRI issued a seizure memo under Section 110 of the Customs Act, 1962, in respect of goods valued at approximately INR 30.14 crore. This action is a continuation of the company's previous intimation dated October 23, 2026.
Date of Receipt
The seizure memos were received by courier on Thursday, November 05, 2026 at 17:55 hrs IST.
Details of Alleged Violation
The matter relates to an industry-wide customs tariff classification dispute concerning certain imported goods and the preferential tariff treatment under the India-United Kingdom (UK) Free Trade Agreement.
Industry Context and Resolution Efforts
The issue has been discussed by the Industry Association with the Ministry of Commerce on November 02, 2026, where assurance was provided for earliest resolution at the apex levels of the government. The company is confident of an early resolution and continues to engage with concerned authorities while taking necessary steps to seek release of the goods as per Customs regulations.
Financial and Operational Impact
The company states it is taking necessary steps to continue operations in the normal course of business and, as of now, there is no material impact or disruption to business. Financial impact quantifiable in monetary terms has not been specified beyond the value of seized goods (INR 30.14 crore).