Tilaknagar Industries announced that the Directorate of Revenue Intelligence has issued a seizure memo for goods valued at approximately ₹30.14 crore. This action pertains to an industry-wide issue concerning the customs tariff classification of imported goods and their preferential tariff treatment under the India-UK Free Trade Agreement. The company is actively engaged with authorities and expects an early resolution with minimal business disruption.
Seizure of Goods by Revenue Intelligence
Tilaknagar Industries Ltd. has disclosed that the Directorate of Revenue Intelligence (DRI), Mumbai Zonal Unit, has issued a seizure memo under the provisions of Section 110 of the Customs Act, 1962. This action is in continuation of a previous intimation dated October 23, 2026. The seized goods have an approximate value of INR 30.14 crore.
Details of the Seizure
The seizure memos were received on Thursday, November 05, 2026, at 17:55 hrs IST. The company stated that the matter relates to an industry-wide customs tariff classification of certain imported goods and the preferential tariff treatment under the India-United Kingdom (“UK”) Free Trade Agreement. This issue has been a subject of discussion between the Industry Association and the Ministry of Commerce, with assurances of an earliest resolution provided.
Company’s Stance and Impact Assessment
Tilaknagar Industries expressed confidence in an early resolution and is actively engaging with the concerned authorities. The company is undertaking necessary steps to seek the release of the goods in accordance with customs regulations. As of now, the company anticipates no material impact or disruption to its business operations, as it is taking steps to continue its business activities in the normal course.
Source: BSE
