Pursuant to SEBI Listing Regulations, Zelio E-Mobility Limited has disclosed the receipt of a Demand cum Show Cause Notice from a regulatory authority.
Nature of the Event
The company received a Demand cum Show Cause Notice (No. 29/PC/2026-27) dated July 29, 2026. The notice was issued by the Office of the Principal Commissioner of Customs, ICD PPG & Other ICDs, Delhi. The notice was emailed to the company on July 30, 2026, but was inadvertently routed to the company's spam/junk folder. This lapse was discovered on August 03, 2026, and the disclosure was made promptly on the same day.
Details of the Notice
The notice was issued under Section 28(4) read with Section 99A of the Customs Act, 1962. It alleges misclassification of certain imported goods and incorrect availment of IGST concession on the import of E-Scooters in Knocked Down (CKD) condition.
The notice proposes:
- Recovery of differential customs duty.
- Applicable interest under Section 28AA of the Customs Act, 1962.
- Imposition of a penalty under Section 114A of the Customs Act, 1962.
- It also calls for a show cause as to why the goods should not be held liable for confiscation under Section 111(m) of the Customs Act, 1962.
The company is required to file its reply to the notice within 30 days of its receipt.
Financial and Operational Impact
The company states that the financial impact cannot be determined at this stage, as the matter is under evaluation. The company is seeking appropriate legal advice regarding the notice.
Current Status and Next Steps
The show cause notice is presently under examination by the company. The company is in the process of formulating its response and intends to submit it before the competent authority within the stipulated 30-day period. The company states it will pursue the matter diligently in accordance with applicable legal provisions to protect and safeguard its interests.