Custom: Uno Minda faces penalty and redemption fine for Misclassification of Imported Goods:

Uno Minda Receives Customs Order Over Misclassification of Imported Goods Uno Minda Limited has informed the National Stock Exchange (NSE) and BSE about an order it received from the office of the Commissioner of Customs, Chennai-11 (Import), regarding a case of misclassification of HSN (Harmonized System of Nomenclature) codes on imported goods. The company stated that the customs authority has raised a demand related to this issue which includes the payment of a differential duty of Rs. 42,97,510. This amount has already been deposited by the company and duly adjusted. In addition to the differential duty, the order involves an interest component applicable under Section 28AA of the Customs Act, 1962, a penalty of Rs. 42,97,510 and a redemption fine of Rs. 10,00,000. The company received the official order on July 10, 2025. Uno Minda clarified that the issue relates specifically to the misclassification of goods under the HSN code, which led to the current financial demands. Uno Minda has stated that it does not expect any material impact on its financial position, operations or any other activities. The company also made it clear that it wants to contest the order based on the merits of the case. This disclosure was done according to the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, under Sub-Para 20 of Para A of Part A of Schedule III. The communication was officially signed by the Company Secretary and Compliance Officer from Uno Minda's Manesar office. The company has promised shareholders that it will take all required legal steps to address the matter while continuing its regular business activities without any disruption.