we submit herewith details of order passed by the Principal Commissioner of Customs ( Import), Air Cargo Complex, Andheri ( East ), Mumbai on 22nd May, 2026 in favour of the Company. ....
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Rashi Peripherals received a favorable order from the Principal Commissioner of Customs, Mumbai, dated May 22, 2026. The order has entirely dropped customs proceedings against the company regarding a Show Cause Notice issued on February 6, 2025. The customs department had alleged wrong classification of imported goods and demanded Rs. 3.52 crore (approximately Rs. 3.53 crore including penalty) as additional customs duty. This entire demand has been ruled as not valid, and all proceedings have been dropped. The company received intimation of this order on May 23, 2026. This amount was previously classified as a contingent liability in the company's financial statements for FY 2024-25.
Positive development for shareholders — the company has successfully avoided a Rs. 3.53 crore customs liability, which removes a contingent liability from its books. No financial impact or penalty on the company.