UNO Minda Limited has informed the Exchange about Action(s) taken or orders passed in respect of its Wholly Owned Subsidiary
UNOMINDA · price
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UNO Minda's wholly owned subsidiary Minda Storage Batteries Private Limited (MSBPL) received a penalty order of Rs. 1.05 crore (Rs. 1,04,88,574) from the Office of the Principal Commissioner, Central GST Commissionerate, Dehradun. The penalty was issued under sections 74(9) and 122(2)(b) of the CGST Act, 2017, relating to excess Input Tax Credit (ITC) claimed by MSBPL for FY 2023-24. The order was received on December 30, 2025, late at night. MSBPL has stated that it intends to contest the order based on the merits of the case.
The penalty amount is small relative to UNO Minda's overall business, and the company has explicitly stated no material impact on its financial, operational, or other activities is expected. As the subsidiary plans to appeal, the final liability is not yet determined and should not meaningfully affect the stock price.