Customs order: imported goods valued at ~Rs. 14.14 crore confiscated; redemption fine and penalties levied
Customs rejected the declared classification of a small part of the plant & machinery imports for the new Solar Glass project.
By ScoutQuest · · 2 min read
- Value of goods confiscated
- ~Rs. 14.14 crore
- Redemption fine
- Rs. 30 lakh
- Penalties imposed
- Rs. 30,000 under Section 112(a)(ii) and Rs. 30 lakh under Section 114AA of the Customs Act, 1962
What the order says
- The Adjudicating Authority, the Additional Commissioner of Customs (NS-V), Jawaharlal Nehru Custom House (JNCH), Nhava Sheva, passed an order dated October 15, 2026 against the company.
- The order rejected the declared description/classification of the imported goods.
- The seized goods, valued at ~Rs. 14.14 crore, were confiscated under Section 111(m) of the Customs Act, 1962, with an option of redemption on payment of a fine of Rs. 30 lakh under Section 125(1).
- A penalty of Rs. 30,000 was imposed under Section 112(a)(ii), and a penalty of Rs. 30 lakh under Section 114AA of the Customs Act, 1962.
- The company received the order on October 16, 2026.
What led to it
The company states it is in the process of importing a large quantum of plant & machinery for its new Solar Glass manufacturing project. Its tariff classification of a small portion of this import was not accepted by the customs authorities, and redemption fine and penalty were levied for release of these goods. The contravention described is classification of the imported capital goods under an incorrect Custom Tariff Item (CTI).
What the company says about impact
- The aggregate financial impact comprising the redemption fine and the penalty will not have any material impact on the company's operations, according to the update.
- The company is paying the redemption fine and penalty under protest.
- It intends to avail legal recourse by update an appeal before the Commissioner of Customs (Appeals).
- The company will update the stock exchanges of any material development in the matter.
What to keep in mind
The disclosure sets out the amounts of the redemption fine and penalties and the value of the goods covered by the order. The company's stated position is that the impact is not material and that it is contesting the matter in appeal, so the outcome of that appeal is the development flagged for future updates.
Also from Borosil Renewables
Board meeting on October 30 to consider and approve September quarter results
23 Oct 2026
Borosil Renewables (referred to as Barry renewable technologies) shares slipped as profit fell 30% despite strong revenue growth
21 Oct 2026
More numbers
- Value of seized goods confiscatedRs. 14,14,43,335/-
- Redemption fine payable for release of goodsRs. 30,00,000/-
- Penalty under Section 112(a)(ii)Rs. 30,000
- Penalty under Section 114AARs. 30,00,000
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.