Vedanta Limited has received an order from the Office of the Commissioner of Customs, Tuticorin, confirming a penalty of ₹92.03 crore and a fine of ₹10 crore, along with a demand for customs duty and applicable interest. The order, issued on September 27, 2024, pertains to a violation involving the pre-import condition applicable for a limited period on imports against advance authorization.
Vedanta has indicated that it believes there is a strong case in its favor, referencing recent judicial pronouncements that support its position. The company has stated that it does not expect the order to have any material financial impact on its operations or other activities.
Vedanta is currently assessing the situation and will decide on the next course of action in due course.
Disclaimer: The information is based on an official disclosure from Vedanta Limited in accordance with SEBI Listing Obligations and Disclosure Requirements.
