Sanco Trans Penalized ₹1 Lakh by Customs Authority

Sanco Trans Ltd has received an order from the Commissioner of Customs (Preventive), Trichy, Tamilnadu, imposing a penalty of ₹1 Lakh under Section 114 of the Customs Act, 1962. The penalty is related to the alleged wrong availment of duty drawback by exporters M/s Starwin Tex. The company, acting as a custodian, is confident of contesting the penalty and believes it will not significantly impact its financial or operational activities if paid. The filing is made pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.