Optiemus Infracom to provide ₹30 Cr surety for subsidiary's imports

Optiemus Infracom Ltd announced that its Operations and Administration Committee has approved becoming a surety and providing a bond for up to ₹30 Crores in favor of the Central Board of Indirect Taxes and Customs. This surety is to secure shipments for its wholly-owned subsidiary, Optiemus Electronics Limited, for hearable, wearable, mobile, and telecom products. The purpose is to enable the subsidiary to avail benefits under the Import of Goods at Concessional Rate of Duty (IGCR) Scheme and comply with customs regulations. The company may face a contingent liability up to the surety amount.