United Spirits Ltd (USL), owned by British multinational alcoholic beverage company Diageo, on Friday (December 15) said the company has received a substantial claim of ₹365.33 crore from an existing national institutional customer.
The claim, received on December 11, 2023, at 3:36 PM, is tied to a past settlement where all recovery claims made by the customer had been previously settled.
"...we would like to inform you that United Spirits Limited has received a claim amounting to INR 365.33 cr from one of its existing national institutional customers on 11th December 2023 (3:36 PM). The claim is in relation to a previously concluded settlement with the customer where all recovery claims made by the customer had been fully settled," USL said in a regulatory filing.
Despite the details of this claim being disclosed in the company's financial statements for the years ending March 31, 2017, March 31, 2018, and March 31, 2022, the company finds itself unable to determine the financial implications at this juncture.
The lack of clarity stems from the need to review historical documents related to the matter, causing a delay in the intimation process. United Spirits now face the task of navigating through historical documents to evaluate the financial repercussions of this development.
Shares of United Spirits Ltd ended at ₹1,081.65, down by ₹3.30, or 0.30% on the BSE.
First Published: Dec 15, 2023 10:59 PM IST
