Rajshree Sugars Gets Major Relief as Commissioner Drops Rs 6,283.59 Lakh Central Excise Demand:

Rajshree Sugars & Chemicals Limited has informed the stock exchanges that the Commissioner of GST & Central Excise, Chennai Outer Commissionerate, vide Order-in-Original No. 35 to 37/2026/COMMR(C.Ex) dated October 29, 2026, has dropped the Central Excise proceedings initiated against it.

Previously, vide SCN 24/2015, SCN 11/2016 and SOD 01/2018, Central Excise proceedings were initiated against the company, wherein exemption claimed by the company on molasses captively consumed and CENVAT credit on molasses for the period from April 2014 to June 2017, under Notification No. 67/95-CE, was denied. The order was received by the company on October 29, 2026, at 4.49 PM.

After the denial of the claimed exemption, an additional amount amounting to Rs 6,283.59 lakhs (principal: Rs 2,094.53 lakhs, penalty: Rs 2,094.53 lakhs, and interest: Rs 2,094.53 lakhs) was imposed on the company.

The Commissioner has held that the company is entitled to exemption under Notification No. 67/95-CE and CENVAT credit and, accordingly, dropped the proceedings, including interest and penalty.

Rajshree Sugars & Chemicals Limited has made the aforementioned disclosure to the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) vide an Intimation dated October 30, 2026, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.