Zuari Agro Chemicals Limited has received a significant demand notice from Goa water authorities, marking a major regulatory challenge for the agricultural chemicals manufacturer. The company disclosed this development under SEBI regulations, emphasizing its intention to legally contest the substantial financial claim.

Demand Notice Details

The Executive Engineer WD IV DDW Fatorda, Goa issued a demand notice dated April 21, 2026, which was received by the company on April 28, 2026. The notice requires payment within 15 days from receipt, creating an immediate compliance timeline for the organization.

Company's Response and Position

Zuari Agro Chemicals has categorically disputed the demand notice, maintaining its commitment to regulatory compliance. The company stated that it complies with all applicable laws in its operations and transactions, asserting that it has not delayed or defaulted on any payments due to any agency.

The organization plans to take appropriate legal recourse to contest the demand, indicating a formal legal challenge to the water authority's claim. This response demonstrates the company's confidence in its position regarding the disputed charges.

Regulatory Disclosure Requirements

The company fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015. The disclosure included comprehensive details about the litigation, expected financial implications, and the quantum of claims involved.

The notification was signed by Company Secretary Asheeba Pereira on April 29, 2026, ensuring timely compliance with stock exchange reporting requirements. This development represents a significant regulatory matter that the company will need to address through legal channels while maintaining its operational activities.

Duke Commerce Limited has formally declared that neither the company nor persons acting in concert have created any encumbrance on the shares of Zuari Agro Chemicals Limited during the financial year ended March 31, 2026. The declaration was submitted in compliance with Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure, dated April 2, 2026, was addressed to the Audit Committee of Zuari Agro Chemicals Limited, the National Stock Exchange of India Limited, and BSE Limited. Duke Commerce Limited confirmed that no encumbrances have been made directly or indirectly on the shares of the target company, other than those already disclosed to the stock exchanges and the company.

Declaration Details

Regulatory Compliance

The submission fulfills the regulatory requirement under SEBI SAST Regulations, which mandate disclosures regarding encumbrances on shares of target companies. Duke Commerce Limited stated that this declaration is for the information and record of the concerned parties, including the stock exchanges and the target company's audit committee.

The formal letter was signed by Manisha Chandalia, Company Secretary of Duke Commerce Limited, and included the company's official seal. The document confirms Duke Commerce Limited's commitment to regulatory transparency and compliance with SEBI guidelines for substantial acquisition disclosures.