ABB India Limited Receives Penalty Order from Customs Authority
ABB India Limited announced it received a penalty order from the Office of the Principal Commissioner of Customs in Bangalore. The order, dated March 24, 2026, and received on the same date, imposes a penalty of Rs. 17,68,303 and a redemption fine of Rs. 1,77,000 under Section 114A of the Customs Act, 1962.The penalty relates to mis-declared values of goods and a contravention of the Customs Act. ABB India Limited plans to appeal the order and anticipates a favorable outcome. The company does not expect the order to have a material impact on its operations.
Below is a summary of the details as provided by ABB India Limited:
| Sr. No. | Details of events | Information |
|---|---|---|
| 1 | a) name of the authority; | Office of the Principal Commissioner of Customs Airport & Air Cargo Commissioner 560300 Devanahalli, Bengaluru - 560 300. |
| b) nature and details of the action(s) taken, initiated or order(s) passed; | Mis-declared value of goods and contravention of the provision of the Customs Act, 1962. | |
| c) date of receipt of direction or order; | The Order dated 24.03.2026 has been received by the Company on March 24, 2026 | |
| d) details of the violation(s)/contravention(s) committed or alleged to be committed | Refer to point no. b). | |
| e) impact on financial, operation or other activities of the listed entity | Based on the Company's assessment, an appeal will be filed against the said order and the Company is hopeful of a favorable outcome at the appellate level and does not reasonably expect the said Order to have any material impact on the Company. |
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