Key Developments and Quantitative Figures
- The Directorate of Revenue Intelligence (DRI), Department of Revenue, Government of India, has issued seizure memos under Section 110 of the Customs Act, 1962.
- The seizure memos pertain to goods valued at approximately INR 6.45 crore.
- The first seizure memo was issued on 30th October 2026 (Friday) at 17:20 hrs IST.
- The second seizure memo was issued on 4th November 2026 at 21:50 hrs IST.
Details of Alleged Violation
The matter relates to an industry-wide issue concerning the customs tariff classification of certain imported goods and the applicability of preferential tariff treatment under the India-United Kingdom (UK) Free Trade Agreement.
Industry Context and Resolution Efforts
- The Industry Association discussed this issue with the Ministry of Commerce on 2nd November 2026.
- The Ministry provided an assurance for the earliest resolution of the matter.
- The company is engaging with the concerned authorities and taking necessary steps to seek the provisional release of the seized goods.
Operational and Financial Impact Assessment
The company states that it is taking 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 only for the value of the seized goods (INR 6.45 crore).
Context from Previous Intimation (17th October 2026)
This disclosure is an update to a prior intimation which reported the initiation of a search by the DRI under Section 105 of the Customs Act, 1962. The search was conducted at multiple locations on 16th October 2026, with the last location concluding at 20:30 hrs IST. The company had stated it was fully cooperating and that there was no financial or operational impact at that time.