Chowgule Steamships Limited has informed stock exchanges that its Whole Time Director, Vijay Chowgule, has received a summons from the Directorate of Enforcement (ED) in connection with an inquiry under the Foreign Exchange Management Act (FEMA), 1999. The summons, dated June 5, 2026, relates to proceedings involving Jaywant Chowgule and others. The company stated that no formal charges or orders have been issued and that the development has no material impact on its operations.
Summons Issued Under FEMA Inquiry
According to the regulatory filing, the summons was issued by the ED’s Panaji Zonal Office and calls for the attendance of Vijay Chowgule and the submission of documents. The action has been taken under Section 37(1) and (3) of FEMA, 1999, read with Section 131(1) of the Income Tax Act, 1961, and Section 30 of the Code of Civil Procedure, 1908.
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The company disclosed that the summons pertains to an inquiry connected with proceedings involving Jaywant Chowgule and others. The filing clarified that the communication is limited to attendance and inquiry purposes.
Company Says No Charges Filed
In its disclosure to BSE Limited, Chowgule Steamships said no formal charges or orders have been passed against Vijay Chowgule as of the date of communication. The company also stated that the inquiry does not currently have any material impact on its financial or operational activities.
Details provided in the filing indicate that the summons was received in accordance with disclosure requirements under SEBI regulations governing listed entities.
Regulatory Filing Details
The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company outlined the nature of the action, the authority involved, the date of the summons, and its assessment of the potential impact on business operations.
The filing was signed by Rinky Gupta, Company Secretary and Compliance Officer, on behalf of the Board of Directors on June 6, 2026. The company reiterated that the summons relates to an ongoing inquiry under FEMA, 1999, and that no formal charges or enforcement orders have been issued at this stage.
