Contingent liabilities of the company
BIS has agreed to accept the compounding application subject to payment of 36.43 crores. The company is currently seeking legal opinion to file an appeal. However, the company may have to start provisioning towards it.
Ador-PH-Order.pdf (861.5 KB)
Discl Ador compounding.pdf (571.9 KB)
It seems like BIS has passed an order on this matter on 26.08.22. As per the order BIS seems to be against releasing the seized inventory. Has the company written down the inventory seized by BIS?. The company has written down 38 lakhs of inventory in FY 22 as per AR. I don’t know if the seized inventory is written down earlier
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