ABB India Limited has informed the Exchange about General Updates
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ABB India has received an order from the Office of the Principal Commissioner of Customs, Bangalore, imposing a penalty of Rs. 17.68 lakhs along with a redemption fine of Rs. 1.77 lakhs under Section 114A of the Customs Act, 1962. The order relates to alleged mis-declaration of the value of goods and contravention of customs provisions. The order was issued on March 24, 2026 and received by the company on the same day. ABB India plans to file an appeal against the order and is hopeful of a favourable outcome at the appellate level. The company has stated that it does not reasonably expect the order to have any material impact on its financials or operations.
The combined financial exposure of around Rs. 19.45 lakhs is negligible for a company of ABB India's size, and the management's reassurance of no material impact should keep the stock unaffected. Shareholders should monitor the appeal outcome, but no immediate action is warranted.