Receipt of Show Cause Notice from Customs Department
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Jyoti Ltd has received a Show Cause Notice dated 24.09.2025 from the Office of the Assistant Commissioner of Customs, Nhava Sheva, alleging violation of the Project Import Regulations, 1986 in connection with goods imported in 2012 for the Upper Bhadra lift irrigation scheme package-I (implemented by Karnataka Neeravari Nigam Limited). The Customs Department is seeking differential custom duty on an assessable value of Rs. 34.58 crores, along with applicable interest and penalty. The company states it has a strong case on merits, is filing a reply, and does not foresee any material impact on its financial, operational, or other activities. The underlying project has been extended up to 31.03.2026.
The notice is at the show cause stage and the company is contesting it, so there is no immediate financial hit. However, if the Customs Department rules against the company, it could face duty, interest, and penalty on Rs. 34.58 crores of assessable value, which is a material amount for Jyoti Ltd and could weigh on the stock in the near term.