Pursuant to regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015 we want to inform you that the Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, has issued ....
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On the reaction day the stock moved 19.4 pts less than Nifty Microcap 250 and 19.2 pts less than its Other Food Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, issued an Arrest Memo on 11 December 2025 against Mr. Ankit Mehta, Chairman and Managing Director of Chemkart India Limited, in connection with an investigation into the company's import transactions under the Customs Act, 1962. Mr. Mehta was subsequently arrested and released on bail on 15 December 2025 by order of the Hon'ble Chief Judicial Magistrate. The company has stated that it is extending full cooperation to the authorities and that its business operations continue without any material disruption. The investigation is still ongoing, and further disclosures will be made as required by law.
This is a negative event for the stock in the short term due to governance and legal risk concerns involving the top leadership, though the company has downplayed operational impact. Investors should watch for further developments, as the ongoing DRI investigation could lead to penalties, financial liability, or reputational damage.