Waaree Energies Subsidiary DRI Search Over ADD Classification

Event Details

The Directorate of Revenue Intelligence (DRI) conducted a search at the manufacturing plant of Sangam Solar One Private Limited, a wholly owned subsidiary of Waaree Energies Limited. The search was conducted pursuant to Section 105 of the Customs Act, 1962.

Location and Timing

The search took place at Survey No 175, 176, 181 and 84, Village Unn, Near Uday Palace, Navsari, Gujarat-396445. The proceedings commenced on August 27, 2026 and concluded at 06:40 P.M (IST).

Nature of Investigation

The search related to the classification of certain stainless-steel pipes and tubes imported under the EPCG Scheme and the consequent applicability of Anti-Dumping Duty (ADD) thereon.

Financial Impact and Current Status

The Company has already deposited the ADD amount of Rs. 2,33,82,930/- (₹2.34 crore) along with applicable interest. The disclosure explicitly states that there is no further payment required to be made. The company confirms there is no impact on financials, operations or other activities of the Company except the amount stated above.