Samvardhana Motherson International Limited has submitted with the exchange an intimation under Regulation 30 of SEBI Listing Regulations.
MOTHERSON · price
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The Tax Administration Authority of Czech Republic imposed a penalty of EUR 10,728 (approximately INR 10.41 lakh) on Motherson SAS Automotive Service Czechia s.r.o. (MSAS), an indirect wholly owned subsidiary, for alleged late payment of VAT. The order was received on February 5, 2025. The company clarified that MSAS had actually remitted the VAT within the prescribed timeline, but the amount was not debited by the remitter bank due to a technical issue on the bank's end. The penalty has been fully reimbursed by the bank to MSAS. The company is disclosing this event under SEBI Listing Regulations with a delay, as it was resolving the matter with the bank before reporting.
No financial or operational impact on the company or its subsidiary, as the penalty was borne and reimbursed by the remitter bank. This is a routine regulatory disclosure with no material effect on shareholders or stock price.