India Glycols Ltd

Integrated Filing — Corporate Governance (NSE XBRL)

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Filing Summary

Company
India Glycols Limited
Symbol
INDIAGLYCO
Quarter Ended
31-Mar-2026
Submission
New

General Disclosures

Advertisements As Per Regulation471
Yes
Annual Return As Provided Under Section92Of The Companies Act2013
Yes
Approval For Material Related Party Transactions
Not Applicable
Approval Of The Board And Shareholders For Compensation Or Profit Sharing
Not Applicable
Audio Or Video Recordings And Transcripts Of Post Earinings Or Quarterly Calls
Yes
Board Composition
Yes
Code Of Conduct
Yes
Compliance Certificate
Yes
Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation
Yes
Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46
Yes
Credit Rating Or Revision In Credit Rating Obtained
Yes
Date Of End Of Financial Year
31-Mar-2026
Date Of End Of Reporting Period
31-Mar-2026
Date Of Signing
29-Apr-2026
Date Of Start Of Financial Year
01-Apr-2025
Designation Of Person
Company Secretary and Compliance Officer
Designation Of Person Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Annual Affirmations
Company Secretary and Compliance Officer
Designation Of Person For Quartely Affirmations
Company Secretary and Compliance Officer
Details Of Agreements Entered Into With The Media Companies And Or Their Associates
Not Applicable
Details Of Business
Yes
Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy
Yes
Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30
Yes
Disclosure Of Notes On Annual Affirmations Explanatory Text Block
No Change in KMPs during FY.
Disclosure Of Related Party Transactions On Consolidated Basis
Yes
Disclosure Web Link Of Annual Return As Provided Under Section92Of The Companies Act2013Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Audio Or Video Recordings And Transcripts Of Post Earinings Or Quarterly Calls Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Advertisements As Per Regulation471Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Dividend Distribution Policy As Per Regulation43A1Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Materiality Policy As Per Sub Regulation4Regulation30Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Credit Rating Or Revision In Credit Rating Obtained Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Details Of Business Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Details Of Establishment Of Vigil Mechanism Or Whistle Blower Policy Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Financial Results Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Policy For Determining Material Subsidiaries Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Policy On Dealing With Related Party Transactions Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Shareholding Pattern Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Compliance With Sub Regulation3Of Regulation46With Respect To Accuracy Of Disclosures On The Website And Timely Updation Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Confirmation That The Disclosures Are In A Separate Section As Specified In Sub Regulation2Of Regulation46Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Disclosure Of Contact Details Of KMP Who Are Authorized For The Purpose Of Determining Materiality Under Sub Regulation5Of Regulation30Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Disclosures Under Sub Regulation8Of Regulation30Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Memorandum Of Association And Articles Of Association Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Secretarial Compliance Report Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Statements Of Deviations Or Variations As Specified In Regulation32Is Placed
https://www.indiaglycols.com/
Disclosures Under Sub Regulation8Of Regulation30
Yes
Dividend Distribution Policy As Per Regulation43A1
Yes
Employee Benefit Scheme Documents Framed In Terms Of SEBI Share Based Employee Benefits And Sweat Equity Regulations2021
Not Applicable
Fees Or Compensation
Yes
Financial Results
Yes
Is SCORESID Available
Yes
ISIN
INE560A01023
Market Capitalisation As Per Immediate Previous Financial Year
Top 1000 listed entities
Materiality Policy As Per Sub Regulation4Regulation30
Yes
Memorandum Of Association And Articles Of Association
Yes
Minimum Information
Yes
MSEI Symbol
NOTLISTED
Name Of Signatory
Ankur Jain
Name Of Signatory Affirmations
Ankur Jain
Name Of Signatory For Annual Affirmations
Ankur Jain
Name Of Signatory For Quartely Affirmations
Ankur Jain
Name Of The Company
INDIA GLYCOLS LIMITED
New Name And The Old Name Of The Listed Entity
Not Applicable
Other Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity
Yes
Place
Noida
Plans For Orderly Succession For Appointments
Yes
Policy For Determining Material Subsidiaries
Yes
Policy For Related Party Transaction
Yes
Policy On Dealing With Related Party Transactions
Yes
Reason For Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Not Applicable To The Entity
No, Loan, Gurantees/Comfort Letters/ Securities etc. was made during the quarter ended on 31st March, 2026.
Recommendation Of Board
Yes
Reporting Quarter
Yearly
Review Of Compliance Reports
Yes
Risk Assessment And Management
Yes
Schedule Of Analyst Or Institutional Investor Meet And Presentation Prepared By Listed Entity For Analyst Or Institutional Investor Meet
Yes
SCORES Registration ID
i00057
Scrip Code
500201
Secretarial Compliance Report
Yes
Separate Audited Financial Statements Of Each Subsidiary Of The Listed Entity
Yes
Shareholding Pattern
Yes
Statements Of Deviations Or Variations As Specified In Regulation32
Yes
Symbol
INDIAGLYCO
The Listed Entity Has Approved Material Subsidiary Policy And The Corporate Governance Requirements With Respect To Subsidiary Of Listed Entity Have Been Complied
Yes
Type Of Company
Equity
Type Of Submission
Original
Vacancies In Respect Key Managerial Personnel
Not Applicable
Vigil Mechanism
Yes
Whether As Per Sub Regulation2ba Of Regulation27Of SEBILODR There Has Been Cyber Security Incidents During The Quarter
No
Whether Part A Of Annexure I Of The SEBI Circular Dated31December2024Related To Compliance Report On Corporate Governance Is Applicable To The Entity
Yes
Whether Part F Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Loans Or Guarantees Or Comfort Letters Or Securities Etc Is Applicable To The Entity
No

Additional Disclosures

Entry D_MeetingBOD1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD3
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingBOD4
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit1
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit2
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit3
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit4
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit5
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit6
Whether Requirement Of Quorum Met
Yes
Entry D_MeetingComit7
Whether Requirement Of Quorum Met
Yes
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Board Composition — Entity Disclosures

Disclosure Of Notes On Composition Of Board Of Directors Explanatory Text Block
On the recommendation of the Nomination and Remuneration Committee, the Board of Directors in its meeting held on 16th May, 2025 re-appointed Shri U.S. Bhartia (DIN:00063091) as Chairman and Managing Director of the Company for a further period of 5 (Five) years w.e.f. 1st April, 2026 till 31st March, 2031 which was also approved by the Members on 22nd July 2025 through postal ballot.
The Composition Of Board Of Directors Is In Terms Of Sebi Regulations2015
Yes
Chairperson Related to MD / CEO
Yes
Regular Chairperson
Yes

Composition of Board of Directors

SrTitleDirectorPANDINCategory 1Category 2Category 3Date of BirthDisqualifiedStatusSpecial ResolutionInitial AppointmentRe-appointmentTenure (months)Listed DirectorshipsIndependent DirectorshipsAudit / Stakeholder MembershipsAudit / Stakeholder Chair Posts
1MrUMA SHANKAR BHARTIA******00063091Executive DirectorChairperson related to PromoterMD13-Dec-1953NoActiveNot Applicable29-Nov-19962061
2MrsJAYSHREE BHARTIA******00063018Non-Executive - Non Independent DirectorNot Applicable09-Sep-1956NoActiveNot Applicable28-May-19991010
3MrsSHUKLA WASSAN******02770898Non-Executive - Independent DirectorNot Applicable18-Dec-1959NoActiveNot Applicable01-Apr-202001-Apr-2025723353
4MrsPRAGYA BHARTIA BARWALE******02109262Executive DirectorNot Applicable05-May-1982NoActiveNot Applicable24-Jun-202024-Jun-20252000
5MrALOK SINGHAL******10359043Executive DirectorNot Applicable07-May-1969NoActiveNot Applicable01-Dec-20231010
6MrRAVI KUMAR******02362615Non-Executive - Independent DirectorNot Applicable15-Apr-1961NoActiveNot Applicable02-Feb-202402-Feb-2024263342
7MrSAMRAT BANERJEE******06706345Non-Executive - Independent DirectorNot Applicable17-Jun-1975NoActiveNot Applicable01-Oct-202401-Oct-2024181130
8MrSUSHIL DUTT SALWAN******10776621Non-Executive - Independent DirectorNot Applicable18-Oct-1960NoActiveNot Applicable01-Oct-202401-Oct-2024181100

Committee Disclosures

Entry CompComit100
Date of Appointment
12-Feb-2021
Entry CompComit101
Date of Appointment
14-Feb-2015
Entry CompComit102
Date of Appointment
14-Feb-2015
Entry CompComit122
Date of Appointment
22-May-2014
Entry CompComit123
Date of Appointment
01-Oct-2024
Entry CompComit124
Date of Appointment
01-Oct-2024
Entry CompComit125
Date of Appointment
01-Dec-2023
Entry CompComit14
Date of Appointment
01-Oct-2024
Entry CompComit15
Date of Appointment
01-Oct-2024
Entry CompComit16
Date of Appointment
01-Dec-2023
Entry CompComit41
Date of Appointment
01-Oct-2024
Entry CompComit42
Date of Appointment
01-Oct-2024
Entry CompComit43
Date of Appointment
01-Oct-2024
Entry CompComit68
Date of Appointment
01-Oct-2024
Entry CompComit69
Date of Appointment
01-Oct-2024
Entry CompComit70
Date of Appointment
28-Apr-2001
Entry CompComit95
Date of Appointment
14-Feb-2015
Entry CompComit96
Date of Appointment
01-Oct-2024
Entry CompComit97
Date of Appointment
01-Oct-2024
Entry CompComit98
Date of Appointment
01-Oct-2024
Entry CompComit99
Date of Appointment
01-Dec-2023
Entry MainD
Composition And Role Of Risk Management Committee
Yes
Composition Of Audit Committee
Yes
Composition Of Nomination And Remuneration Committee
Yes
Composition Of Stakeholder Relationship Committee
Yes
Composition Of Various Committees Of Board Of Directors
Yes
Disclosure Web Link Of Company At Which Composition Of Various Committees Of Board Of Directors Is Placed
https://www.indiaglycols.com/
Memberships In Committees
Yes
Prior Or Omnibus Approval Of Audit Committee For All Related Party Transactions
Yes
Risk Management Committee
Yes
Role Of Audit Committee And Information To Be Reviewed By The Audit Committee
Yes
Role Of Nomination And Remuneration Committee
Yes
Role Of Stakeholders Relationship Committee
Yes
The Committee Members Have Been Made Aware Of Their Powers Role And Responsibilities As Specified In Sebi Regulations2015
Yes
The Composition Of Audit Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Nomination And Remuneration Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Risk Management Committee Is In Terms Of Sebi Regulations2015
Yes
The Composition Of The Stakeholders Relationship Committee Committee Is In Terms Of Sebi Regulations2015
Yes
Whether The Audit Committee Has A Regular Chairperson
Yes
Whether The Corporate Social Responsibility Committee Has A Regular Chairperson
Yes
Whether The Nomination And Remuneration Committee Has A Regular Chairperson
Yes
Whether The Risk Management Committee Has A Regular Chairperson
Yes
Whether The Stakeholders Relationship Committee Has A Regular Chairperson
Yes

Audit Committee

Additional Position
Chairperson
Director DIN
02362615
Member Name
RAVI KUMAR
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
06706345
Member Name
SAMRAT BANERJEE
Position
Non-Executive - Independent Director

Audit Committee

Additional Position
Member
Director DIN
10359043
Member Name
ALOK SINGHAL
Position
Executive Director

Audit Committee

Audit Committee

Audit Committee

Corporate Social Responsibility Committee

Additional Position
Chairperson
Director DIN
00063091
Member Name
UMA SHANKAR BHARTIA
Position
Executive Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
02109262
Member Name
PRAGYA BHARTIA BARWALE
Position
Executive Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
06706345
Member Name
SAMRAT BANERJEE
Position
Non-Executive - Independent Director

Corporate Social Responsibility Committee

Additional Position
Member
Director DIN
10359043
Member Name
ALOK SINGHAL
Position
Executive Director

Nomination and remuneration committee

Additional Position
Chairperson
Director DIN
02362615
Member Name
RAVI KUMAR
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
02770898
Member Name
SHUKLA WASSAN
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Additional Position
Member
Director DIN
10776621
Member Name
SUSHIL DUTT SALWAN
Position
Non-Executive - Independent Director

Nomination and remuneration committee

Risk Management Committee

Additional Position
Member
Director DIN
01667132
Member Name
RUPARK SARSWAT
Notes
Shri Rupark Sarswat is not a Board Member.
Position
Chief Executive Officer

Risk Management Committee

Additional Position
Member
Director DIN
02366573
Member Name
ANAND SINGHAL
Notes
Shri Anand Singhal is not a Board Member.
Position
Chief Financial Officer

Risk Management Committee

Additional Position
Member
Director DIN
99999999
Member Name
ATUL GOVIL
Notes
Shri Atul Govil is not a Board Member.
Position
Head- IT & CTO

Risk Management Committee

Additional Position
Chairperson
Director DIN
00063091
Member Name
UMA SHANKAR BHARTIA
Position
Executive Director

Risk Management Committee

Additional Position
Member
Director DIN
02109262
Member Name
PRAGYA BHARTIA BARWALE
Position
Executive Director

Risk Management Committee

Additional Position
Member
Director DIN
02362615
Member Name
RAVI KUMAR
Position
Non-Executive - Independent Director

Risk Management Committee

Additional Position
Member
Director DIN
02770898
Member Name
SHUKLA WASSAN
Position
Non-Executive - Independent Director

Risk Management Committee

Additional Position
Member
Director DIN
10359043
Member Name
ALOK SINGHAL
Position
Executive Director

Risk Management Committee

Stakeholders Relationship Committee

Additional Position
Chairperson
Director DIN
02770898
Member Name
SHUKLA WASSAN
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
06706345
Member Name
SAMRAT BANERJEE
Position
Non-Executive - Independent Director

Stakeholders Relationship Committee

Additional Position
Member
Director DIN
00063091
Member Name
UMA SHANKAR BHARTIA
Position
Executive Director

Stakeholders Relationship Committee

Stakeholders Relationship Committee

Entry MainD
Gap Between The Meetings Of The Risk Management Committee
Yes
Meeting Of Audit Committee
Yes
Meeting Of Board Of Directors
Yes
Meeting Of Independent Directors
Yes
Meeting Of Nomination And Remuneration Committee
Yes
Meeting Of Risk Management Committee
Yes
Meeting Of Stakeholders Relationship Committee
Yes
Quorum Of Board Meeting
Yes
Quorum Of Nomination And Remuneration Committee Meeting
Yes
Quorum Of Risk Management Committeemeeting
Yes
The Meetings Of The Board Of Directors And The Above Committees Have Been Conducted In The Manner As Specified In Sebi Regulations2015
Yes
Entry MeetingBOD1
Dates Of Meeting In The Previous Quarter
16-Oct-2025
Number Of Directors Present In Meeting Of Board Of Directors
7
Number Of Independent Directors Attending The Meeting
4
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingBOD2
Dates Of Meeting In The Previous Quarter
14-Nov-2025
Number Of Directors Present In Meeting Of Board Of Directors
7
Number Of Independent Directors Attending The Meeting
4
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingBOD3
Dates Of Meeting If Any In The Relevant Quarter
10-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
87
Number Of Directors Present In Meeting Of Board Of Directors
8
Number Of Independent Directors Attending The Meeting
4
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingBOD4
Dates Of Meeting If Any In The Relevant Quarter
17-Mar-2026
Maximum Gap Between Any Two Consecutive Meetings
34
Number Of Directors Present In Meeting Of Board Of Directors
6
Number Of Independent Directors Attending The Meeting
4
Total Number Of Directors As On Date Of The Meeting
8
Entry MeetingComit1
Dates Of Meeting Of The Committee In The Previous Quarter
16-Oct-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit2
Dates Of Meeting Of The Committee In The Previous Quarter
14-Nov-2025
Maximum Gap Between Any Two Consecutive Meetings
28
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit3
Dates Of Meeting Of The Committee In The Relevant Quarter
10-Feb-2026
Maximum Gap Between Any Two Consecutive Meetings
87
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit4
Dates Of Meeting Of The Committee In The Relevant Quarter
10-Feb-2026
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
3
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit5
Dates Of Meeting Of The Committee In The Previous Quarter
14-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit6
Dates Of Meeting Of The Committee In The Relevant Quarter
10-Feb-2026
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
3
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
0
Total Number Of Directors As On Date Of The Meeting
3
Entry MeetingComit7
Dates Of Meeting Of The Committee In The Previous Quarter
14-Nov-2025
Number Of Director Present In Meeting Of Committee All Directors Including Independent Director
5
Number Of Independent Director Attending Meeting Of Committee
2
Number Of Member Attending Meeting Of Committee
2
Total Number Of Directors As On Date Of The Meeting
5
Entry MainD
Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances
Yes
Disclosure Web Link Of Company At Which Contact Information Of The Designated Officials Of The Listed Entity Who Are Responsible For Assisting And Handling Investor Grievances Is Placed
https://www.indiaglycols.com/
Disclosure Web Link Of Company At Which Email Address For Grievance Redressal And Other Relevant Details Is Placed
https://www.indiaglycols.com/
Email Address For Grievance Redressal And Other Relevant Details
Yes
No Of Investor Complaints Disposed Off During The Period
11
No Of Investor Complaints During The Period
0
No Of Investor Complaints Received During The Period
11
Whether Part B Of Annexure I Of The SEBI Circular Dated31December2024Related To Investor Grievance Redressal Report Is Applicable To The Entity
Yes
Entry MainI
No Of Investor Complaints
0
Entry PY_I
No Of Investor Complaints
0
Composition Of Board Of Directors Of Unlisted Material Subsidiary
Not Applicable
Reason For Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Not Applicable To The Entity
No, Acquistion was made during the quarter ended on 31st March, 2026.
Whether Part C Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Acquisition Of Shares Or Voting Rights In Unlisted Companies Is Applicable To The Entity
No
Entry I_OngoingTaxLitigationsOrDisputes1
Current Status
The Company is in process of filling an appeal against the Order of the Appellate Authority.
Date of Initiation
07-Jun-2024
Opposing Party
Additional Commissioner of Customs, Noida Custom Commissionerate
Status (Previous Disclosure)
A Show Cause notice was issued by Principal Commissioner alleging incorrect availment of Basic Customs Duty @2.5% instead of 5% during 01.07.2017 to 01.02.2021 on Import of DEA. Upon hearing, the Additional Commissioner had vide Order-in-Original dated 23.03.2024 confirmed an amount of Rs. 33.43 crore as duty paid short along with applicable interest, imposing penalty of Rs. 82 crore and redemption fine of Rs. 191.76 crore under the Customs Act, 1962. Subsequently, the Company filed an appeal before Commissioner (Appeals), Noida, Uttar Pradesh (“Appellate Authority”) against the Impugned Order-in-Original dated 23.03.2024. The Appellate Authority vide its Order-in-Appeal dated 27.02.2026 has partially allowed the Company's appeal and upheld the Impugned Order with respect to demand of Rs. 33.43 crore as duty short paid along with applicable interest and penalty of Rs. 41 crores.The demand for penalty amount of Rs. 41 crore and redemption fine of Rs. 191.76 crore had been set aside. Consequently, there has been a reduction in the substantial amount of total demand against the Company in this matter. Based on the Company’s assessment and advice of the legal counsel, the Company has a strong case on merit and is in process of filing appeal CESTAT, Allahabad against Order-in-Appeal dated 27.02.2026.
Entry I_OngoingTaxLitigationsOrDisputes2
Current Status
Pending for adjudication.
Date of Initiation
09-May-2019
Opposing Party
Commissioner of CGST & Central Excise, E-Block, Nehru Colony, Haridwar Road, Dehradun, Uttarakhand (Commissioner).
Status (Previous Disclosure)
The Commissioner has filed an appeal challenging the order passed by the Customs, Excise & Service Tax Appellate Tribunal, New Delhi ("CESTAT"), New Delhi, setting aside the Commissioner's earlier order dated 9th May 2019. The Company has not yet received a notice from the Hon'ble High Court of Uttarakhand at Nainital but was informed by its consultant after the matter appeared on the Court's website. The matter pertains to the classification of 'RAB' under the Central Excise Tariff for the financial years 2005 to 2009. The CESTAT has already adjudicated in favor of the Company against the order of the Commissioner. Central Excise Duty amounting to Rs.10,39,32,564/- along with applicable interest and penalty. As the Company has already been awarded a favorable order on this matter by CESTAT, hence the Company, post discussions with the experts, believes that the above demand is not maintainable.
Entry MainD
Whether Part E Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Updates To Ongoing Tax Litigations Or Disputes Is Applicable To The Entity
Yes
Entry I_ImpositionOfFineOrPenalty1
Authority
Commissioner (Appeals),Noida, Uttar Pradesh (Appellate Authority)
Date Of Receipt Of Direction Or Order Including Any Ad Interim Or Interim Orders Or Any Other Communication From The Authority
12-Mar-2026
Financial / Operational Impact
Based on the Company’s assessment and advice of the legal counsel, the Company has a strong case on merit and will file the second appeal against such demand of duty, interest and penalty confirmed by the Appellate Authority and does not reasonably anticipate any material impact on its financial or operational or other activities.
Nature And Details Of The Action Taken Or Order Passed
The Appellate Authority vide order dated 27th February 2026 (received on 12th March, 2026) has partially upheld the Order-in-Original No. 69/ADC/NoidaCus/2023-24 dated 22nd March, 2024 passed by Additional Commissioner, Noida Customs Commissionerate, Uttar Pradesh.
Violation Details
The Company had initially received an order dated 22nd March, 2024 from the Office of Additional Commissioner, Noida Customs Commissionerate, Uttar Pradesh (“Impugned Order”), confirming an amount of Rs. 33.43 crore as duty paid short along with applicable interest, imposing penalty of Rs. 82 crore and redemption fine of Rs.191.76 crore under the Customs Act, 1962. Subsequently, the Company filed an appeal against the Impugned Order and the Appellate Authority vide its order dated 27th February 2026 (received on 12th March, 2026) had partially allowed the Company’s appeal and upheld the Impugned Order with respect to demand of Rs. 33.43 crore as duty short paid along with applicable interest and penalty of Rs. 41 crores . The demand for penalty amount of Rs. 41 crore and redemption fine of Rs. 191.76 crore had been set aside. Consequently, there has been a reduction in the substantial amount of total demand against the Company in this matter.
Entry MainD
Whether Part D Of Annexure I Of The SEBI Circular Dated31December2024Related To Disclosure Of Imposition Of Fine Or Penalty Is Applicable To The Entity
Yes