The company noted it had provided comprehensive responses and supporting documents following a show cause notice from the Excise Department. Som Distilleries remarked that the explanations, supporting evidence, and court order submitted do not seem to have been given due consideration in the decision regarding the application.
Som Distilleries stated it is exploring various legal options and taking necessary actions to regain the manufacturing licence as soon as possible. The management is actively discussing with stakeholders and assessing suitable measures to lessen the order’s impact on business operations.
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“The company truly values the ongoing support and understanding of its stakeholders during this difficult time and will keep the stock exchanges updated on any significant developments in accordance with regulatory requirements,” it further stated.
Founded in 1993, Som Distilleries & Breweries is a manufacturer of alcoholic beverages. Its product range includes beer, whisky, vodka, rum, gin, ready-to-drink beverages, and country liquor. The company also engages in the bottling, canning, and blending of wine and other alcoholic drinks.
Shares of Som Distilleries and Breweries Ltd closed at ₹75.36, decreasing by ₹10.50, or 12.23%, on the BSE.
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(Edited by : Jomy Jos Pullokaran)
