TTK Prestige Limited — Others, 08-04-2025: Action(s) initiated or orders passed

TTK Prestige has received an adverse order from the Commissioner of Customs, demanding a total of ₹20.84 crore due to a dispute over the classification of imported coating paint from 2018 to 2021. This includes differential duties, interest, and multiple penalties. The company plans to appeal the decision, asserting that they provided adequate justification for their HSN classification, supported by a technical opinion from a recognized institution. They remain confident in a favorable resolution, suggesting a neutral impact on financial statements and a potential positive outlook depending on the outcome of the appeal.