Nilkamal Limited has informed the Exchange about Action(s) taken or orders passed
NILKAMAL · price
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Awaiting price reaction for this filing.
Nilkamal Limited informed the exchanges that CESTAT (Customs, Excise and Service Tax Appellate Tribunal), Mumbai has ordered dropping of proceedings related to a customs duty shortfall demand originally raised in May 2024 by the Commissioner of Customs, Jawaharlal Nehru Custom House. The demand was under sections 111(d), 114A, and 114AA of the Customs Act, 1962. The company had appealed, and the Commissioner of Customs (Appeals) had earlier set aside the original order and sent it back for fresh adjudication. Now CESTAT has passed a favorable order dropping the proceedings. The company states there is no material financial, operational, or other impact from this development.
This is a positive outcome for Nilkamal shareholders — a potential customs duty liability has been cleared with no material financial impact, removing an overhang on the stock.