The Intimation under Regulation 30 is attached herewith
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mr. Vijay Chowgule, Whole Time Director of Chowgule Steamships Ltd, received a summons dated 05 June 2026 from the Enforcement Directorate (ED), Panji Zonal Office Goa. The summons was issued under Section 37(1) and (3) of FEMA, 1999 read with Section 131(1) of the Income Tax Act, 1961 and Section 30 of the Code of Civil Procedure, 1908. It requires his attendance for enquiry purposes in connection with FEMA proceedings in the case of 'Jaywant Chowgule and others,' along with submission of certain documents. The company has clarified that no formal charges or orders have been passed against the director or the company. It also states there is no material impact on the financial or operational activities of the company at this stage.
While no financial or operational impact has been declared, the ED summons to a key Whole Time Director under FEMA may raise short-term governance and reputational concerns among investors and could lead to stock price volatility pending further clarity.