Rashi Peripherals Limited has received an order from the Principal Commissioner of Customs confirming a demand of Rs 8.02 crore, including differential duty and penalties, following an adjudication proceeding. The order, dated May 29, 2026, was received by the company on May 30, 2026, and confirms the demand for customs duty, interest, and penalty under Section 28(4) of the Customs Act, 1962. The authority alleged that the company made a wrong classification of imported goods, leading to the additional liability.

The breakdown of the confirmed demand includes a differential duty demand of Rs 3.76 crore and two separate penalties under Sections 114A and 114AA of the Customs Act. The company had already paid Rs 1.82 crore under protest on August 22, 2025, reducing the net payable amount to Rs 6.19 crore, excluding applicable interest. The demand will be classified as a contingent liability in the company's financial statements.

Breakdown of Demand

Legal and Financial Impact

The order stems from a Show Cause Notice (SCN No. 477/2025-26) issued on December 2, 2025. The Principal Commissioner of Customs (Import), Air Cargo Complex, Andheri (East), Mumbai, passed the final adjudication order confirming the allegations. The company stated that it is currently in discussion with its legal advisors regarding the filing of an appeal before the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) against the order.

Rashi Peripherals Limited has received an order from the Principal Commissioner of Customs (Import), Air Cargo Complex, Andheri (East), Mumbai, dropping all proceedings against the company. The order, dated May 22, 2026, was received on May 23, 2026, and confirms that the entire demand raised by the Customs department is not valid. This development removes a significant financial overhang for the company related to the financial year 2024-25.

The proceedings related to a Show Cause Notice (SCN No. 808/2025-26) dated February 6, 2025. The notice had alleged that the company made a wrong classification of imported goods and was liable to pay additional customs duty. The authority has now adjudicated the matter and decided to drop the proceedings entirely.

Financial Impact

The order has a positive impact on the company's financials. The customs demand amounting to ₹3,52,79,282, including penalty, has been dropped. This amount was previously classified as a contingent liability in the financial statements for the financial year 2024-25.

Details of the Order

The following table summarizes the key details of the regulatory order:

The company has informed the stock exchanges regarding this development as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.