Legal1 April 2026 at 12:21 pm
ABB India Ltd Faces Rs. 14.56 Crore Penalty from Customs Authority
AI Summary
ABB India Ltd has received an order from the Commissioner of Customs, APACC, Bengaluru, imposing a penalty of Rs. 3,55,73,125 and a redemption fine of Rs. 11,00,00,000 under Section 114A and 125 of the Customs Act, 1962 respectively. The Company plans to file an appeal against the order and expects a favorable outcome, not anticipating any material impact on the Company. The order was received on April 01, 2026.
Key Highlights
- ABB India Ltd has been imposed a penalty of Rs. 3,55,73,125 by the Commissioner of Customs, APACC, Bengaluru
- A redemption fine of Rs. 11,00,00,000 has also been imposed on ABB India Ltd
- The Company plans to file an appeal against the order
- ABB India Ltd expects a favorable outcome at the appellate level
- The Company does not anticipate any material impact on the business due to this order
ABBHeavy Electrical Equipment
ABB India LimitedPrice Impact