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Shares of textile major Century Enka will react adversely on Friday as the company has received an order from the Commissioner of Central Excise, Raigad, for a central excise duty demand of ₹229.27 crore and an equal amount of penalty and interest. The demand was raised pursuant to the show-cause notices issued by the Central Excise department during the years 2001 to 2004. The news broke out as the market was nearing closing hours. The stock, therefore, reacted just marginally.
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