ABB India has informed that the Company has received an order from the Office of the Commissioner of Customs, Maharashtra imposing a fine of Rs 2,00,000 and penalty of Rs 10,76,014 plus applicable interest under applicable provisions of the Customs Act, 1962 in relation to mis-classification of the goods imported by the Company. The Order dated December 22, 2023 has been received by the Company on January 16, 2024 around 4.05 pm. The details of the above order, as required under Clause 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is enclosed as Annexure I. The Company is currently assessing the possibility of filing an appeal against this order to the Appellate Authority in consultation with subject matter experts.
The above information is a part of company’s filings submitted to BSE.
