Som Distilleries & Breweries Limited (SDBL), a leading player in India’s alcoholic beverage industry, has confirmed that the Customs Department recently visited its corporate office in Bhopal and its manufacturing facility to inquire into import and export transactions. The company emphasized that no violations were found and that the inquiry will have no financial or operational impact.
Customs Visit Focused on Import-Export Reconciliation
In a regulatory disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, SDBL stated that the Customs Department’s visit was part of a reconciliation exercise related to the company’s import and export activities. Importantly, the company clarified that no contraventions were noted during the process.
Key Takeaways from the Disclosure
- Authority Involved: Department of Customs
- Nature of Action: Inquiry and reconciliation of import-export transactions
- Violations Found: None
- Financial Impact: No impact on operations or financial performance
- Communication from Authorities: No direction, order, or communication received post-inquiry
Company’s Statement
In its official filing, Som Distilleries reassured stakeholders that the inquiry was procedural and did not result in any adverse findings. The company confirmed that neither penalties nor directions were issued by the Customs Department following the visit.
Importance of Transparency
The disclosure highlights the company’s commitment to transparency and adherence to regulatory obligations under SEBI’s LODR framework. By promptly sharing details of the inquiry, SDBL has sought to maintain investor confidence and reinforce its reputation for compliance.
About Som Distilleries & Breweries Limited
Headquartered in New Delhi with a corporate office in Bhopal, Som Distilleries & Breweries Limited manufactures and markets a wide range of alcoholic beverages, including beer, whisky, vodka, and rum. The company is known for brands such as Hunter, Black Fort, and Milestone.
Expert View
While regulatory visits often raise investor concerns, the clean outcome of this inquiry removes any immediate compliance risks for Som Distilleries. With no financial or operational repercussions, the company’s growth trajectory in both domestic and export markets remains unaffected.
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