Indo Borax & Chemicals Limited has informed the Exchange about General Updates
INDOBORAX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indo Borax & Chemicals has informed the stock exchanges that the Customs Department has dropped its demand of Rs. 10,57,32,984 (approximately Rs. 10.57 crore) in custom duty, along with interest, penalty, and all proceedings against the company. The order was received by the company on 5th June 2025. This means the company is no longer liable to pay this amount or face any related penalties or legal action from the customs authorities. The disclosure was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements.
This is a positive development for shareholders as a significant financial liability of over Rs. 10.57 crore has been removed from the company's books. It reduces potential financial risk and may have a modestly positive short-term effect on investor sentiment, though the amount is not material enough to drive a major stock price move.