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. 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. 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 INR 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 INR 17,76,74,874.
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.
Tejas Networks Limited is a wireline and wireless telecommunications (telecom) and data networking products company. The Company designs, develops and manufactures products for building high-speed communication networks that carry voice, data and video traffic from fixed line, mobile and broadband networks. It offers a range of solutions, which include radio access network, fiber broadband access, satcom solution, optical aggregation, switching and routing, direct to mobile broadcast solution, metro core and backbone, network management, and wireless core. Its products include TJ1400 Aggregation, TJ1400P Access Router, Tejas 4G/ 5G Base Band Unit, Navdoot, SAMRAT, Gyandoot, Lehar, TJ1280 MSPP, and TJ1600. The Company’s services include customer services, build services, managed services, consultancy services, and nurture services. It caters to Internet service providers, Web-scale Internet companies, telecom companies, utility and defense companies.
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