DIC India Limited, a prominent player in the Indian manufacturing sector, has announced the appointment of Mr. Navapol Chuensiri as a Non-Executive Non-Independent Director. This appointment, initially made on August 13, 2025, has now been confirmed through a postal ballot approval by the company's members.

Leadership Experience

Mr. Chuensiri brings a wealth of experience to his new role at DIC India Limited:

Educational Background

Mr. Chuensiri's educational qualifications underscore his technical and managerial expertise:

Role and Expectations

In his capacity as Deputy Regional Managing Director of DIC Asia Pacific Pte Ltd, Mr. Chuensiri is expected to play a crucial role in supporting the development of a robust and sustainable structural platform. This initiative aims to drive the business into its next phase of growth in the Asia Pacific Region.

Regulatory Compliance

It's worth noting that Mr. Chuensiri is not related to any existing directors on the company's board. Furthermore, he is not debarred from holding directorship by any regulatory authority, ensuring compliance with corporate governance norms.

Corporate Actions

Coinciding with this appointment, DIC India Limited has also received a reaffirmation of its credit ratings from CRISIL:

These ratings apply to the company's total bank loan facilities, which have been increased from INR 59.09 crore to INR 100.00 crore.

The appointment of Mr. Chuensiri, with his extensive global experience and leadership skills, is expected to contribute significantly to DIC India Limited's strategic growth and operational excellence in the coming years.

DIC India , a prominent player in the printing inks and allied products industry, has received a show cause notice from the West Bengal GST authorities, demanding payment of Rs. 5.55 crore. The notice, issued under section 73 of the West Bengal GST Act, 2017, comes as a result of alleged discrepancies in the company's tax filings for the financial year 2021-22.

Details of the Demand

The show cause notice, received on September 12, 2025, from the Joint Commissioner of Revenue, Large Taxpayer Unit, breaks down the demand as follows:

Allegations and Contentions

The GST authorities have raised several concerns regarding DIC India's tax practices:

1. Excess availment of Input Tax Credit (ITC)
2. ITC taken on blocked credits
3. Denial of ITC on imports
4. Alleged imposition of GST on exempted and non-GST supplies
5. Mismatch in ITC claimed

It's important to note that while the demand is substantial, no penalty has been imposed on the company at this stage.

Company's Response

DIC India Limited has stated that there is no material impact on its financial, operational, or other activities due to this notice. The company plans to respond to the show cause notice within the stipulated timeframe, providing relevant supporting documents to address the allegations.

In its disclosure to the stock exchanges, DIC India emphasized its commitment to compliance and transparency. The company will thoroughly review the notice and prepare a comprehensive reply to address each point raised by the GST authorities.

Market Implications

While the company maintains that the notice does not have a material impact on its operations, investors and market watchers will likely keep a close eye on how this situation unfolds. The resolution of this tax matter could have implications for DIC India's financial statements and potentially affect investor sentiment in the short term.

As the situation develops, stakeholders will be keen to see how effectively DIC India can address the concerns raised by the GST authorities and whether this will lead to any changes in the company's tax management practices going forward.

DIC India Limited continues to operate its business as usual while addressing this regulatory matter. The company's proactive disclosure and planned response demonstrate its commitment to addressing regulatory challenges transparently and promptly.