Allied Blenders and Distillers Limited — Others, 20-11-2024: Delay/default in the payment of fines/penalties/dues etc. to authority

Allied Blenders and Distillers Limited has received a Demand Notice from Telangana State Beverages Corporation Limited for Excise Duty/Counter Veiling Duty totaling ₹5.23 crore, related to IMFL shortages from the fiscal years 2020-21 to 2022-23. The company is currently assessing the demand and the differing interpretations of the assessment, which has delayed its response. While the financial implications are significant, the company does not anticipate impacts on operations. This situation may induce a cautious sentiment among investors due to potential financial liabilities, but may also present an opportunity if the company successfully contests the demand.