Manali Petrochemicals Limited has informed the Exchange about General Updates
MANALIPETC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Manali Petrochemicals received a favourable Final Order from CESTAT on 23rd March 2026, allowing the company's appeal against a customs duty demand of Rs. 3.83 crore (plus interest) imposed by the Adjudicating Authority, DRI, Mumbai in July 2019. The demand arose from an alleged misclassification of Quicklime imports. CESTAT upheld the company's classification under CTI 2522 1000, noting that the Calcium Oxide purity of 91%-95% was below the 98% threshold required for classification under CTI 2825 9090. The tribunal set aside the demand in its entirety. The company is assessing the financial impact of writing back the provision made earlier.
Positive for shareholders as the Rs. 3.83 crore customs duty demand has been eliminated, and writing back the provision will likely improve the company's financials. No adverse impact on the stock expected.