United Spirits Limited has disclosed an action by the Directorate of Revenue Intelligence (DRI) involving the seizure of imported goods. The seizure, valued at approximately INR 6.45 crore, relates to customs tariff classification and preferential treatment under the India-UK Free Trade Agreement. The company anticipates an early resolution and is engaging with authorities to seek provisional release of the goods, with no immediate material impact on operations reported.
DRI Seizure of Imported Goods
United Spirits Limited has provided an update regarding a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure follows a prior intimation dated 17th October 2026.
Details of the Action
The Directorate of Revenue Intelligence (DRI), under the Department of Revenue, Government of India, has issued seizure memos. These memos, issued under Section 110 of the Customs Act, 1962, pertain to imported goods with an approximate value of INR 6.45 crore. The seizure memos were issued on 30th October 2026 and 4th November 2026.
The matter relates to an industry-wide issue concerning customs tariff classification of certain imported goods and the preferential tariff treatment under the India-United Kingdom (“UK”) Free Trade Agreement. The company’s previous intimation, dated 17th October 2026, had noted an initiation of search pursuant to Section 105 of the Customs Act, 1962, as part of an industry-wide exercise by the Revenue Authority.
Company’s Stance and Next Steps
United Spirits Limited expressed confidence in an early resolution of the matter and is actively engaging with the concerned authorities. Necessary steps are being taken to seek the provisional release of the seized goods. The company also stated that the delay in reporting was unintentional and promptly actioned upon bringing the issue to the notice of the relevant executives.
The issue has been a subject of discussion between the Industry Association and the Ministry of Commerce, with an assurance provided on 2nd November 2026 for an earliest resolution.
Impact on Business Operations
As of the reporting date, the company stated that it is taking necessary steps to continue its operations in the normal course of business. There is currently no material impact or disruption to business operations anticipated. The company has extended its full cooperation and assistance to the DRI and has furnished all requested documents and information.
Source: BSE
