DGFT show cause notice on MEIS duty credit recovery of Rs 622.39

Regulatory & Legal View source PDF Explain this filing

JTEKTINDIA · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.4%Reaction day

₹140.50

prior close

₹141.59

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%-0.9% vs market

Auto Components & Equipments peers, median of 116sector+1.5%-1.1% vs sector

On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250 and 1.1 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.3

10m

+0.0

15m

+0.1

30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.4+1.3-0.9+1.5-1.1

Next day

+0.4+1.6-1.3+1.2-0.8

-0.5+1.7-2.2+1.6-2.1

+1.4+1.6-0.3+0.9+0.5

+0.6+1.5-0.8+0.7-0.1

-1.1+1.8-2.9+1.1-2.2

-6.8+2.1-8.8+0.6-7.4

15d

-10.1+3.2-13.3-1.1-9.0

-13.3+3.7-17.0-0.7-12.6

-19.3+1.1-20.4-3.5-15.8

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 116Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

JTEKT India received a Show Cause Notice from the Additional Director General of Foreign Trade, Delhi. The DGFT has confirmed a recovery demand of Rs 622.39 in MEIS duty credit scrips, alleging excess benefit was sanctioned due to incorrect foreign exchange rate adoption for converting FOB value into rupees, under the Foreign Trade Policy 2015-20. The action is under Sections 11(2), 13 and 14 of the Foreign Trade Act, 1992. The company states there is no impact on its financial, operational, or other activities.

Likely market impact

Minor recovery demand of Rs 622.39 in MEIS scrips; company says no financial or operational impact. Regulatory overhang stays till the matter is closed.