Chowgule Steamships Director Receives Summons from Directorate of Enforcement (ED)
Chowgule Steamships Ltd has confirmed that its Whole Time Director, Mr. Vijay Chowgule, received a summons from the Directorate of Enforcement (ED). The action relates to proceedings under the Foreign Exchange Management Act (FEMA), 1999, and pertains to document submission in connection with an ongoing inquiry.The ED issued the summons on June 5, 2026, originating from its Panji Zonal Office Goa. Mr. Vijay Chowgule is the recipient of this legal communication. The proceedings are conducted under Section 37 (1) and (3) of FEMA, 1999, read with section 131 (1) of the Income Tax Act, 1961 and Section 30 of the Code of Civil Procedure, 1908.
The summons pertains to an inquiry into proceedings under the Foreign Exchange Management Act in relation to Jaywant Chowgule and other parties. The required action involves attendance and the submission of specified documents.
Key details regarding the regulatory interaction are summarized below:
| Aspect | Details |
|---|---|
| Authority | Directorate of Enforcement (ED), Panji Zonal Office |
| Summon Recipient | Mr. Vijay Chowgule, Whole Time Director |
| Date of Receipt | June 5, 2026 |
| Allegation Status | The summons is for attendance and inquiry purposes; no formal charges or orders have been passed. |
The company reported that the situation has no material impact on its financial or operational activities. This update was provided by the company in reference to regulatory requirements regarding receipt of directions from enforcement authorities.
Stock Price Movement
Chowgule Steamships Ltd shares closed on Friday at ₹20.88, sinking 3.69% in a post-market session. The stock traded within a daily range, touching an intraday high of ₹22.28 before finding support down to the low of ₹20.36.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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