Mumbai, Oct. 14 -- The suspension of Old Monk sales in Maharashtra has reportedly caused significant financial losses for both the state government and the brand's manufacturer. The state is estimated to have lost Rs 350 crore in excise revenue, while the company has claimed losses of approximately Rs 500 crore.
The figures were presented by the manufacturer in a petition before the Bombay High Court, which has brought the economic impact of the restrictions into focus.
According to the company's court submission, the suspension of Old Monk sales has reduced Maharashtra's excise collections by an estimated Rs 350 crore.
Excise duty on alcoholic beverages is an important source of revenue for state governments, and restrictions affecting ...