United Spirits Ltd (USL) has challenged a Rs 365.33 crore claim by the Canteen Stores Department in Bombay High Court, arguing the claim is based on a previously settled matter.
New Delhi, Jan 4 (PTI) Leading spirits maker United Spirits Ltd (USL) has moved the Mumbai High Court challenging the Rs 365.33 crore claim by the Canteen Stores Department under the Ministry of Defence.
On December 11, 2023, USL, a subsidiary of Diageo PLC, received a claim of Rs 365.33 crore from the Canteen Stores Department, which is one of its institutional customers.
"After seeking legal advice, on January 3, 2024... USL has lodged writ petition... challenging the correctness of the claim, praying that the claim be set aside," said USL.
According to USL, the claim is in relation to a previously concluded settlement, wherein all recovery claims by the customer were fully settled.
Further, the relevant details have been disclosed in the company's financial statements for FY17, FY18 and FY22.
Pending the outcome of the writ petition, it is not in a position to determine the financial implication of this claim, it said.
USL had posted a revenue from operations of Rs 27,577 crore in 2022-23.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback