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| Exchange Received Time 04/03/2018 21:56:08 Exchange Disseminated Time 04/03/2018 21:56:14 Time Taken 00:00:06 | Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that the Commissioner of State Excise, Maharashtra has passed an order dated March 3, 2018 cancelling our DS-1 License and Form-I License relating to the Distillery operations of one of our factories located at Nira, Maharashtra and to take necessary criminal action.
The Company is taking appropriate action against the Order since the manufacture and supply of alcohol is done only after obtaining necessary approvals of the state excise department. The Distillery operations of the Nira plant are in compliance with the conditions of DS-1 License and Form-I License.
The cancellation of license for Distillery operations will have negligible impact on revenue and no impact on profitability of the Company and other Life Science Chemical products manufactured at this location will not get affected on account of this Order.
This is for your kind information.
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