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Tejas Networks Limited (the ?Company?) received an order dated January 13, 2025 from Principal C...

Posted: 17 Jan 2025

Tejas Networks Limited (the �Company�) received an order dated January 13, 2025 from Principal Commissioner of Customs, APACC, Bengaluru 560 300, received by the Company on January 16, 2025 demanding a differential duty, interest there on and penalties & fines due to alleged mis-classification of the finished goods during the period from July 2021 to March 2022, details of which are furnished in the Annexure. Kindly take the above information on record. Yours sincerely For Tejas Networks Limited N R Ravikrishnan General Counsel, Chief Compliance Officer & Company Secretary Annexure S. No Particulars Details 1 Name of the Authority The Principal Commissioner of Customs, APACC, Bengaluru - 560300 2 Nature and details of the action(s) taken, initiated or order(s) passed Order issued under the Section 28(4) of the Customs Act, 1962 demanding a differential duty, interest there on and penalties & fines under Sections 114A, 114AA, 158(2) (ii) of the Customs Act, 1962. 3 Date of receipt of direction or order, including any ad-interim or interim orders, or any other communication from the authority Order issued on January 13, 2025 and received by the Company on January 16, 2025. 4 Details of the violation(s) / contravention(s) committed or alleged to be committed Alleged mis-classification of finished goods during the period from July 2021 to March 2022 demanding a differential duty of Rs.15,65,74,874/-, interest there on at appropriate rates and penalties & fines under Sections 114A, 114AA, 158(2)(ii) of the Customs Act, 1962 of Rs.17,76,74,874/- 5 Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent possible There is no material impact on financials, operations or other activities of the Company. The Company is reviewing the order and will take suitable action as appropriate.