Customs Action Against Lloyds Metals and Energy Limited Confirms Duty Demand of Rs 7.74 Crore
Lloyds Metals and Energy Limited has confirmed that it received an order from the Office of the Commissioner of Customs, Nagpur, regarding a demand for differential customs duty due to the misclassification of goods under the Customs Act, 1962.The company received the official order on July 27, 2026, issued by the Commissioner of Customs in Nagpur. The action pertains to a demand confirmed by the customs authority concerning the classification of certain goods.
Lloyds Metals and Energy Limited stated that it had settled the matter prior to receiving the formal order from the customs office.
Demand Details Confirmed
The custom duty claim included a significant amount for the differential tax, along with associated interest and penalty charges. The details regarding the demand, action taken by the company, and the authority involved are summarized below:| Particulars | Details |
|---|---|
| Name of Authority | Commissioner of Customs- Nagpur, Maharashtra |
| Nature of Action | Demand for differential customs duty following misclassification of goods under the Customs Act. |
| Date of Receipt | July 27, 2026 |
| Settlement Status | The company paid the differential custom duty along with interest and penalty prior to receiving the order. |
Financial Breakdown of the Demand
The official notice confirmed a comprehensive demand covering the unpaid customs duty, accrued interest, and prescribed penalties.Key financial figures pertaining to the demand are as follows:
| Component | Amount (Rs.) |
|---|---|
| Differential Customs Duty | 7,74,60,071 |
| Interest | 54,74,037 |
| Penalty | 1,16,19,020 |
The company reported that the penalty levied by the customs authority has no material impact on its financial standing or operational activities.
LLOYDSME Stock Price Movement
Lloyds Metals And Energy Limited shares gained 3.78% on Monday, closing at ₹2014.9 as the stock achieved its year high, touching ₹2037 during trading hours. The substantial move was supported by active market participation, with over 1.48 million shares exchanged during the session.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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