UNO Minda Subsidiary MWTL Receives Customs Order; Company to Appeal
UNO Minda's subsidiary, Minda Westport Technologies Limited (MWTL), received a customs order for alleged misclassification of imported components. MWTL faces a demand of ₹25,56,79,094 in tax and a penalty of ₹25,56,79,094. MWTL plans to appeal, stating no material impact is foreseen.
A significant financial demand in tax and penalty has been made, which could impact the subsidiary. However, the company's belief that there will be no material impact on its overall financial or operational activities reduces the impact level.
The company disagrees with the order and plans to appeal, indicating they do not foresee a material impact. While there is a financial demand, the company's stance and appeal plan mitigate immediate negative sentiment.
Minda Westport Technologies Limited (MWTL), a subsidiary of UNO Minda Limited, has received an order from the Principal Commissioner of Customs (ICD Patparganj), New Delhi. The order pertains to the alleged misclassification of imported components used in the manufacturing of parts for vehicle CNG systems.
MWTL has been demanded to pay ₹25,56,79,094 as tax and a penalty of ₹25,56,79,094. Interest is applicable as per the order. The order was received by MWTL on March 27, 2026, around 04:35 P.M. (IST).
MWTL disagrees with the findings of the order and intends to file an appeal. The company does not foresee any material impact on its financial, operational, or other activities as a result of this order.
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