ABB India has been hit with a significant penalty and fine by the Commissioner of Customs, APACC, Bengaluru. The company has been ordered to pay a penalty of ₹3,55,73,125 and a redemption fine of ₹11,00,00,000 under Sections 114A and 125 of the Customs Act, 1962, respectively. The order, dated March 26, 2026, was received by ABB India on April 1, 2026.
The penalty and fine stem from the misclassification of goods and contravention of the provisions of the Customs Act, 1962. Despite the financial implications, ABB India has assessed the situation and plans to file an appeal against the order. The company remains optimistic about a favourable outcome at the appellate level and does not anticipate the order to have a material impact on its operations or financials.
The disclosure of this order was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. ABB India has assured stakeholders that it is taking necessary steps to address the issue and is hopeful of resolving the matter without significant repercussions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).