Jindal Stainless Limited — Others, 31-01-2025: Delay/default in the payment of fines/penalties/dues etc. to authority

Jindal Stainless Limited has disclosed that an order imposing a total penalty of ₹33.46 crore has been issued against the company by the Additional Commissioner of Customs, Visakhapatnam, under the Customs Act, 1962. This includes ₹11.15 crore for Section 112(a) and ₹22.31 crore for Section 114(AA). Despite the penalties, the company states there is no material impact on its financial or operational activities, as it is currently challenging the order. Investor sentiment may remain stable given the absence of significant financial repercussions and the ongoing legal recourse.