Hot Pursuit
The Sandur Manganese & Iron Ores Limited announced that its material subsidiary, Royal Sandur Metals Private Limited (formerly Arjas Steel Private Limited), has received a penalty order of Rs 12 lakh from the Office of the Principal Commissioner of Customs, Chennai-III, on September 8, 2026, under Section 114 of the Customs Act, 1962. The penalty relates to the non-payment of export duty by Sundaram Fasteners Limited (SEZ unit) on goods procured from Royal Sandur Metals Private Limited between May 22, 2022, and November 18, 2022, prior to the company's acquisition of Royal Sandur Metals. The Sandur Manganese & Iron Ores Limited stated that the order is not expected to have a material impact on its financial or operational activities and that Royal Sandur Metals is reviewing the order and considering legal options.