Customs orders Rs 2 lakh recovery, interest and penalty; company to contest

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Nifty Microcap 250market · in no size index; the smallest one is usedpendingvs market: pending

Logistics Solution Provider peers, median of 46sector+3.3%-0.6% vs sector

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AI summary

The Customs Commissioner in Trichy ordered recovery, interest and a penalty over alleged wrong availment of duty drawback by Jaanu Tex and Bismi Tex. The amount is Rs 2 lakh if paid. SANCO TRANS says it acted only as custodian and plans to contest the order.

Likely market impact

The company may face a Rs 2 lakh payment if the order is upheld, but it plans to contest, leaving the final financial impact uncertain.