Customs authority imposes Rs 15 crore penalty on Wockhardt over API mis-classification
WOCKPHARMA · price
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Wockhardt received an Adjudication Order from the Commissioner of Customs, Nhava Sheva on 21 August 2026. A penalty of Rs 5 crore was imposed under Section 114(iii) and a redemption fine of Rs 10 crore in lieu of confiscation of goods for mis-classification of an Active Pharmaceutical Ingredient (API) exported by the company. An additional Rs 1 crore penalty was levied on an officer. Total exposure around Rs 16 crore.
Company plans to appeal and states it is confident of the case merits. It says the order has no material impact beyond the monetary penalty itself.