Legal28 Oct 2026, 04:23 pm
Sanco Trans Faces ₹15.98 Lakh Penalty from Customs
AI Summary
Sanco Trans Ltd has received an order from the Commissioner of Customs (Preventive), Trichy, Tamil Nadu, for the alleged wrong availment of duty drawback. The action includes recovery, interest, and penalty under Sections 75 and 114 of the Customs Act, 1962. The total amount involved is ₹15.98 Lakhs. The company's management is confident in contesting the recovery amount, penalty, and interest before the appropriate legal forums. This disclosure is made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Highlights
- Customs authority issued order for alleged wrong duty drawback availment.
- Penalty, interest, and recovery amount totals ₹15.98 Lakhs.
- Company plans to contest the order legally.
- Disclosure made as per SEBI LODR Regulations.
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