Golden Tobacco intimates of levy of penalty of Rs 29 crore

By Directorate General of Central Excise Intelligence (Adjudication) New Delhi

Golden Tobacco announced that the Directorate General of Central Excise Intelligence (Adjudication) New Delhi, in the matter of KCL, Kanpur imposed a penalty of Rs 29 crores to the Company. As per legal opinion penalty is wrongly imposed to the Company. However, the Company is in the process of taking legal action in this regard.

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