With reference to the corporate announcement submitted on 5th June, 2025, please find herewith the additional details required under SEBI Circular dated 11th November, 2024 in Annexure -1
INDOBORAX · price
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The Office of the Commissioner of Customs (Adjudication), Mumbai has ordered the dropping of a cumulative differential Customs Duty demand of Rs. 10,57,32,984 (approximately Rs. 10.57 crores), along with interest and penalty, against Indo Borax & Chemicals for the period 2015 to 2020. The case related to the company's eligibility for exemption from Basic Customs Duty on imports. All proceedings initiated against the company have also been dropped. The order was received on 5th June 2025, and the company has confirmed there is no financial implication as the ruling is entirely in its favour.
Positive outcome for shareholders — the company has been absolved of a potential liability of over Rs. 10.57 crores plus interest and penalty, which removes a long-pending tax overhang and strengthens its financial position.