Chowgule Steamships Director Receives ED Summons

Chowgule Steamships Ltd announced that its Whole Time Director, Mr. Vijay Chowgule, has received a summons from the Directorate of Enforcement (ED) under FEMA, 1999 and the Income Tax Act, 1961. The summons is for attendance and submission of documents related to proceedings under the Foreign Exchange Management Act in the case of Jaywant Chowgule and others. The company stated that no formal charges or orders have been passed and that there is no material impact on its financial or operational activities.