MANORAMA INDUSTRIES: CLARIFIES DELAYED DISCLOSURE ON CUSTOMS INQUIRY ⚠️

MANORAMA INDUSTRIES: CLARIFIES DELAYED DISCLOSURE ON CUSTOMS INQUIRY ⚠️ $MANORAMA • 🏛️ Customs Department initiated an inquiry under Section 108 of the Customs Act regarding imports made under the India-UAE CEPA • 📄 Company received Customs summons on July 24, 2026; no show-cause notice, demand, adjudication order or penalty has been issued • 💰 Manorama voluntarily paid an aggregate ₹20.64 Cr after completing reconciliation of multiple import consignments • 🤝 Company is seeking recovery of the amount from the overseas supplier and issued a debit note on August 10 • ⏱️ Company acknowledged that the disclosure exceeded the prescribed 24-hour timeline, citing time required to verify facts and financial implications 🟠 Impact: Cautious – ₹20.64 Cr voluntary payment is material and recovery from the overseas supplier remains important; however, no formal demand or penalty has been issued by Customs so far