UNO Minda Limited has informed the Exchange about Action(s) taken or orders passed on its Subsidiary Company
UNOMINDA · price
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UNO Minda's subsidiary, Minda Westport Technologies Limited (MWTL), received an order from the Principal Commissioner of Customs (ICD Patparganj), New Delhi on March 27, 2026, alleging misclassification (CTH/HSN) of imported components used in manufacturing parts for vehicle CNG systems. The customs authority has demanded Rs. 25.57 crore as tax and an equal amount of Rs. 25.57 crore as penalty, along with applicable interest, taking the total potential liability to roughly Rs. 51 crore plus interest. MWTL disagrees with the findings and intends to file an appeal against the order. The parent company has stated it does not foresee any material impact on its financial, operational, or other activities.
A combined demand of about Rs. 51 crore plus interest has been placed on the subsidiary, which could weigh on near-term sentiment, but the company is contesting the order and expects no material impact on consolidated operations or finances.