Inventurus Knowledge Solutions Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Order received by Aquity Solutions India Private Limited, a wholly-owned subsidiary of the Company from the Interim Settlement Board - III, Ministry of Finance, Government of India, Mumbai.
IKS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Inventurus Knowledge Solutions (IKS) disclosed that its step-down subsidiary Aquity Solutions India Private Limited received an order dated August 1, 2025, from the Interim Settlement Board-III under the Customs Act, 1962. The order relates to misclassification of services under different CPC codes between FY 2015-16 and FY 2018-19 when claiming benefits under the Service Exports from India Scheme (SEIS) from DGFT Mumbai. A penalty of INR 1.5 crore was imposed on Aquity India as part of a settlement. The matter now stands closed, and the company has stated there is no material impact on its financial, operational, or other activities.
The penalty is small relative to the size of the business and pertains to a pre-acquisition period (before IKS acquired Aquity in October 2023). With the matter closed and no financial impact disclosed, the impact on shareholders is likely to be minimal and largely already priced in.