Bannari Amman Sugars Clarifies Disclosure Delay, Faces ₹8.69 Crore TNPDCL Demand Notice

Bannari Amman Sugars Limited has responded to exchange queries regarding a disclosure discrepancy while disclosing a ₹8.69 crore demand notice from Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for its Vengur sugar unit.

Disclosure Timing Clarification

The company explained that the TNPDCL demand notice dated March 6, 2025 was received on Saturday, March 15, 2025 after working hours. With March 16 being a Sunday, Bannari Amman submitted the required disclosure on the next working day, Monday, March 17, 2025, in full compliance with SEBI (LODR) Regulations.

TNPDCL Demand Notice Details

Authority: Tamil Nadu Power Distribution Corporation Limited (TNPDCL), Kallakurichi
Amount Demanded: ₹8,69,15,567
Breakdown:

₹3,24,45,439: Balance 50% of tariff

₹5,44,69,128: Interest component

Period Covered: Start-up power supplied by TANGEDCO from October 2013 to July 2017

Issued by: Superintendent Engineer, Kallakurichi TNPDCL

Basis: Communication from Chief Financial Controller/Revenue (FAC), TNPDCL, Chennai

The demand pertains to Bannari Amman's Vengur Village, Thirukoilur Taluk sugar unit.

Bannari Amman Sugars asserts calculation errors and questionable interest applicability. The company plans to escalate the matter to higher TNPDCL authorities for resolution.

Financial Impact: Exact quantum to be determined post-discussions. No immediate provisioning announced.

The company reaffirmed its consistent adherence to SEBI (LODR) Regulations and all applicable laws, emphasizing the weekend timing as the sole reason for the one-day disclosure delay.

Bannari Amman will provide updates following discussions with TNPDCL authorities regarding the contested demand notice.

Source : Equity Bulls

Keywords

BannariAmmanSugars DisclosureDiscrepancy DemandNotice TNPDCL