Exicom Tele-Systems , a prominent player in the telecom industry, has recently come under scrutiny from the Directorate of Revenue Intelligence (DRI). The company disclosed that DRI officials conducted search operations at its offices in Gurugram, raising questions about its import practices.

Key Developments

• Search Operations: The DRI carried out searches at Exicom's corporate office and plant in Gurugram on October 29, 2025.
• Focus of Inquiry: The investigation centers on the classification of goods imported by the company.
• Company's Response: Exicom has assured full cooperation with the authorities and maintains that its business operations remain unaffected.

Details of the Search

Company's Stance

Exicom Tele-Systems has taken a proactive approach in addressing the situation:

1. Full Cooperation: The company has provided all requested information and clarifications to DRI officials.
2. Legal Compliance: Exicom has obtained an independent legal opinion confirming that its classification of imported goods complies with applicable laws and regulations.
3. Business Continuity: The company asserts that these proceedings have not impacted its business operations, financial performance, or day-to-day functioning.
4. Commitment to Transparency: Exicom has reaffirmed its dedication to maintaining high standards of compliance, transparency, and corporate governance.

While the DRI's investigation is ongoing, Exicom Tele-Systems maintains its position of compliance with regulatory requirements. The company's prompt disclosure and cooperative stance demonstrate its commitment to addressing the situation transparently.

As this is a developing story, stakeholders and industry observers will likely keep a close watch on further developments and any potential implications for Exicom Tele-Systems and the broader telecom sector.

Exicom Tele-Systems , a prominent player in the telecom and electric vehicle charging infrastructure sector, has received a show cause notice from the Principal Commissioner of Customs, demanding Rs 14.49 crore in differential duty, interest, and penalties. The notice, dated September 30, 2025, alleges that the company mis-declared imported goods and wrongly claimed duty exemption.

Allegations and Demand Details

According to the customs authority, Exicom Tele-Systems allegedly mis-declared imported goods as 'Static Converters for Telecom' under CTH 85044090, claiming Basic Customs Duty (BCD) exemption under Sl. No. 4 of Notification No. 25/2005-Cus. dated March 1, 2005. The authority contends that these goods were actually meant for Electric Vehicle chargers, which are not eligible for the said exemption.

The show cause notice proposes:

1. Rejection of wrongly availed benefits
2. Recovery of Rs 14.49 crore in custom duty
3. Applicable interest and penalties
4. Potential confiscation of imported goods under the Customs Act, 1962

Company's Response and Outlook

Exicom Tele-Systems has 30 days from the receipt of the notice to respond to the Principal Commissioner of Customs. The company stated that based on its preliminary assessment, it believes the demand is not maintainable.

In its regulatory filing, Exicom Tele-Systems mentioned:

"The Company, based on preliminary assessment, believes that the demand is not maintainable. The Company is evaluating the matter and will submit its reply within the prescribed time period. At this stage, the Company does not envisage any material impact on its financials, operations or other activities."

Disclosure Delay Explained

Exicom Tele-Systems also addressed the delay in disclosing this regulatory notice to the stock exchanges. The company cited internal communication delays and public holidays as reasons for the late disclosure:

1. The notice was received after office hours on September 30, 2025.
2. October 1, 2025, was Mahanavmi, and October 2, 2025, was a national holiday (Gandhi Jayanti).
3. The notice was internally escalated to the Compliance Officer on October 3, 2025.

The company emphasized that the delay was inadvertent and not an intentional concealment, stating its commitment to timely disclosures and regulatory compliance.

As the situation unfolds, investors and stakeholders will be closely watching how Exicom Tele-Systems addresses these allegations and manages the potential financial implications of the customs duty demand.