Dwarikesh Sugar Industries Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
DWARKESH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Dwarikesh Sugar's Dwarikesh Dham unit has received a notice from the UP Assistant Excise Commissioner demanding ₹79.45 lakh as import/export fees on denatured spirit (power alcohol) at ₹1 per bulk litre. The demand is retrospective, covering FY 2018-19 to FY 2024-25, and follows a Supreme Court order in October 2024 that upheld the State's right to levy such fees. The Excise Department has clarified that this is a statutory recovery and not a penalty. The company has stated there is no material financial or operational impact beyond the ₹79.45 lakh amount and is evaluating legal recourse.
The ₹79.45 lakh demand is small and the company says it will not materially affect operations or finances. Investors should watch for updates on whether the company challenges the order, but near-term impact on the stock is likely negligible.