HP Adhesives Limited has informed the Exchange about Action(s) initiated or orders passed
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Awaiting price reaction for this filing.
HP Adhesives has received a Show Cause Notice (SCN) from the Joint Commissioner of Customs (NS-I) Nhava Sheva, demanding ₹28.70 lakhs in unpaid Anti-Dumping Duty (ADD) along with applicable interest. The demand relates to imports of goods worth ₹85.5 lakhs made in May and June 2021 (FY21-22), where ADD became applicable as per Notification No. 25/2021 dated 26th April 2021. The notice was issued under Section 124 read with Section 28 of the Customs Act, 1962. The company has stated it is evaluating the notice and will file a detailed reply with supporting evidence, and believes there is no immediate impact on its financial position or operations.
The financial impact is small (₹28.7 lakhs is minor relative to a listed company's books), but the matter could affect customs compliance standing. Shareholders should watch for the company's reply and any subsequent order, though management has indicated no material operational impact.