The company said it had submitted detailed replies and supporting documents in response to a show cause notice issued by the Excise Department. Som Distilleries said the explanations, supporting materials and the court order placed on record do not appear to have been adequately considered while deciding on the application.
Som Distilleries said it is pursuing various legal remedies and taking all necessary steps with a view to restoring the manufacturing licence at the earliest. It added that the management is actively engaging with stakeholders and evaluating appropriate measures to mitigate the impact of the order on business operations.
ALSO READ | Explained: Why Som Distilleries shares fell nearly 12% today
“The company sincerely appreciates the continued support and understanding of its stakeholders during this challenging period and shall keep the stock exchanges informed of any material developments in accordance with applicable regulatory requirements,” it added.
Set up in 1993, Som Distilleries & Breweries is a distillery company. It provides products like beer, whisky, vodka, rum, gin, ready-to-drink beverages, and country liquor. The company offers wine in bottling, canning, and blending of alcoholic beverages.
Shares of Som Distilleries and Breweries Ltd ended at ₹75.36, down by ₹10.50, or 12.23%, on the BSE.
(Edited by : Jomy Jos Pullokaran)
