MAITHANALLMaithan Alloys Limited
Maithan Alloys discloses a customs search and seizure at its Visakhapatnam unit, with no financial impact so far
- Legal
- Metals
Maithan Alloys Limited has told the exchanges that the Directorate of Revenue Intelligence (DRI), Visakhapatnam Regional Unit, conducted a search and seizure under Section 105 of the Customs Act, 1962 at the company's Visakhapatnam unit. The action began on 9 Oct 2026 at around 3:00 PM and ended on 10 Oct 2026 at about 3:30 AM. It covered the Visakhapatnam unit only.
The company says it extended full cooperation to the authorities and provided all details and documents the officers asked for. It states that there is no financial impact at this point in time and that business operations at the unit continued without disruption despite the search.
The filing does not describe the reason for the action or name any alleged violation. The company says the delay in making the disclosure was inadvertent and asks the exchanges to condone it.
Inference
A search and seizure is an investigation step, not a finding. The filing does not say what the authorities were looking for or what was seized, so the possible outcome and any later demand are not known.
The company reports no financial impact for now. Shareholders may want to watch for further disclosures about the matter, since the filing does not rule out later developments, and for how the company reports any outcome in its results.
Reference: Original filing (PDF)
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