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Company Update
HP Cotton Textile Mills Ltd502873 · Filed with the exchange
H.P.
Cotton Textile Mills Limited has announced a board meeting on the financial results for the quarter and half-year.
The company received a Show Cause Notice from the Office of the Additional Director General of Foreign Trade, CLA Delhi, alleging non-fulfillment of export obligation related to an Advance Authorization from 2003. The company stated the demand is factually incorrect and legally untenable, as it had already received a Redemption Letter in 2008. Management plans to vigorously defend the matter, and no material financial or operational impact is expected.
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