pursuant of regulation 30 of SEBI (LODR) Regulations, 2015, we submit herewith the details of order passed by the Principal Commissioner of Customs ( Import ), Air Cargo Complex, Andheri ....
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Rashi Peripherals received an order from the Principal Commissioner of Customs (Import) at Air Cargo Complex, Mumbai, confirming a demand of Rs. 8.02 crore for customs duty, penalties and interest. The demand arises from an alleged wrong classification of imported goods. The order includes Differential Duty Demand of Rs. 3.76 crore, Penalty under Section 114A of Rs. 3.76 crore, and Penalty under Section 114AA of Rs. 50 lakh. The company had already paid Rs. 1.82 crore under protest in August 2025, leaving a net payable of Rs. 6.19 crore excluding interest. The demand will be classified as a contingent liability in financial statements. The company is consulting legal advisors and plans to file an appeal before CESTAT against this order.
This is a negative development for shareholders as it confirms a significant customs liability of Rs. 8+ crore that will impact cash flows if upheld. While the company plans to appeal, the confirmed demand increases financial uncertainty and contingent liability exposure for the distributor of IT and peripheral products.