Ahmedabad, January 30, 2025 – Vadilal Industries Limited (NSE: VADILALIND, BSE: 519156) has disclosed receiving an adjudication order from the Office of the Commissioner of Customs, Nhava Sheva, Raigad-Maharashtra, regarding differential customs duty on imported goods.
Key Highlights of the Order:
| Particulars | Details |
|---|---|
| Authority | Commissioner of Customs, Nhava Sheva, Raigad-Maharashtra |
| Nature of Order | Imposition of differential customs duty at 7.5% instead of 5% |
| Date of Order | January 20, 2025 |
| Date of Receipt | January 29, 2025 |
| Penalty and Duty Details | Differential Duty: ₹10,14,189 + Interest Additional 25% penalty if paid within 30 days Fine: ₹25,00,000 |
| Impact on Company | No financial, operational, or business impact on Vadilal Industries |
Company's Response
Vadilal Industries clarified that the adjudication pertains to increased customs duty assessment on certain imported goods. Despite the financial implications of the order, the company has asserted that the decision will not affect its operations or economic stability.This disclosure has been made according to the compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Conclusion
While the adjudication order imposes additional duties, fines, and potential penalties, Vadilal Industries remains unaffected in its business operations. The company is expected to comply with the regulatory requirements while ensuring minimal disruptions.For further updates, stay tuned.