Coromandel International Limited order passed by the office of the Commissioner Custom House, Raigad, Maharashtra. The authority involved is the Commissioner of Customs (NS-IV), JNCH, Nhava Sheva. The nature and details of the actions include a demand for IGST exemption claimed amounting to INR 73,070,120, along with interest at the applicable rate on the amount of IGST.

Additionally, there is a redemption fine of INR 37,573,912 and a penalty equal to the IGST confirmed thereon under section 114A of the Customs Act. The date of receipt of communication from the authority is noted as a copy of the receipt of the order made, which was intimated to the Company on 22nd November 2024 through hard copy only. The details of the alleged violations or contraventions committed or alleged to be committed pertain to the alleged non-compliance of the pre-import condition as laid down in notification no.

79/2017 dated October 13, 2017. In terms of the impact on financial, operational, or other activities of the listed entity, it is stated that in the case of payment of IGST, the company can avail Input Tax Credit. The interest levy, penalty, and redemption fine are not applicable in this case, as there are favorable rulings from the Hon'ble Bombay High Court and CESTAT.

Therefore, no financial impact is expected, and the company has a strong case to defend against the interest, penalty, and redemption fine. Regarding the explanation for the delay in disclosure, it is mentioned that the hard copy of the order was received during the closing hours on 22nd November 2024. The concerned officials, besides being on business travel, were internally reviewing the order, evaluating the impact, and determining the further course of action to finalize the disclosure, which resulted in additional time being taken for the submission of the disclosure.