India Glycols Limited has informed the Exchange regarding 'Announcement under Regulation 30'.
INDIAGLYCO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 2.0 pts less than its Breweries & Distilleries peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
India Glycols has disclosed that the Commissioner of CGST & Central Excise, Uttarakhand has filed an appeal in the Uttarakhand High Court at Nainital. The appeal is against an earlier order by CESTAT (Customs, Excise & Service Tax Appellate Tribunal), New Delhi, which had set aside the Commissioner's original order dated 9th May 2019 and ruled in favor of the company. The dispute relates to the classification of 'RAB' under the Central Excise Tariff for financial years 2005 to 2009. The financial exposure involved is a Central Excise Duty demand of about ₹10.39 crore, along with applicable interest and penalty. The company says it has not yet received a formal notice from the High Court and was informed of the appeal only after it appeared on the court's website. Since CESTAT had already ruled in the company's favor, India Glycols believes this demand is not maintainable and will defend its position.
This is a legal update, not an immediate financial hit. The company had already won this case at CESTAT, and the tax department is now trying to reverse that win. Investors should monitor the High Court outcome, but there is no current outflow or confirmed liability at this stage.