Disclosure under Regulation 30 of SEBI (LODR) Regulations 2015
Awaiting price reaction for this filing.
ZF Commercial Vehicle Control Systems India (formerly WABCO India) received an order dated May 19, 2025, from the Commissioner of Income Tax (Appeals), Chennai, regarding a tax dispute. The dispute involved disallowance of payments to an entity in Belgium for non-deduction of tax at source, with an original demand of around ₹75 lakhs. The company opted for the Direct Tax Vivad Se Vishwas (DTVSV) Scheme 2024 to settle the matter and paid approximately ₹9.1 lakhs. The appeal was dismissed as the company had chosen the settlement route.
The settlement amount is small relative to the company's size and management has confirmed there is no material impact on financials, operations, or other activities. This is a routine tax compliance disclosure and is unlikely to affect the stock price.