Ganesh Benzoplast Limited announced that reference to the earlier disclosure made by the company on dated January 09, 2024 regarding imposition of a penalty of INR 7,29,50,000/- under Custom Act, 1962, for certain procedural defects/deficiencies, the company informed that the company has filed an appeal with Customs, Excise and Service Tax Appellate Tribunal (CESTAT) against the said order. The company informed that based on the representations made by the company before the appellate Tribunal (CESTAT) in the aforesaid matter, the CESTAT has passed an order in favour of the Company on dated April 22, 2024 and set aside the impugned order dated January 08, 2024 in its entirety, on the basis of merits and dropped the demands towards fine and penalties amounting to INR 7,29,50,000/-.