Neogen Chemicals gets customs penalty order of around 1.23 crore
NEOGEN · price
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Neogen Chemicals received an order from the Commissioner of Customs, Raigad dated February 9, 2026, received on February 10, 2026, imposing penalty for non-fulfilment of export obligations under Advance Authorisation and pre-import conditions of Customs Notification 18/2015 for FY17-18 and FY18-19. The order levies recovery of about 77.55 lakh in customs duty foregone with interest, a 38 lakh fine under section 125, and a 7.75 lakh penalty under section 112(a) of the Customs Act. The company is analysing the case and plans to file an appeal. It states no material impact on operations beyond the order amount.
Near-term financial hit of about 1.23 crore plus legal costs; company plans to appeal so final outcome remains uncertain. Not deemed material.