Latest News | USL Challenges Canteen Stores Dept's Rs 365 Cr Demand Before Bombay HC

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.

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"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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)