Rane Holdings Limited has informed stock exchanges that its wholly owned subsidiary, Rane Steering Systems Private Limited (RSSL), received a customs order confirming differential duty and penalty totaling ₹2.89 crore on April 16, 2026.

Customs Order Details

The Principal Commissioner of Customs ICD, Patparganj, New Delhi issued the order under Section 28 of the Customs Act, 1962. The order addresses wrong tariff classification issues related to 39 import bill entries that occurred between May 2023 and January 2025.

Background and Compliance Issues

RSSL had previously received a Show Cause Notice regarding the wrong tariff classification of import bills. The customs authority identified non-compliance in the classification process, which resulted in differential duty calculations along with applicable interest and penalty provisions under Sections 28(1), 28AA, and 112 of the Customs Act, 1962.

The company's disclosure follows Regulation 30 of SEBI LODR requirements, with Rane Holdings having previously informed exchanges about the Show Cause Notice in May 2025.

Company Response and Next Steps

RSSL plans to contest the customs order before the appropriate authority within prescribed timelines. The subsidiary will work in consultation with its tax advisors and consultants to challenge the order through proper legal channels.

Regulatory Disclosure

The disclosure was made under Regulation 30 of SEBI LODR regulations, specifically covering communications from regulatory authorities. Rane Holdings confirmed that all information provided in the compliance filing is accurate and complete to the best of the company's knowledge and belief.

The company has requested stock exchanges to note the compliance under relevant SEBI LODR regulations and associated circulars. This development represents an ongoing regulatory matter that the subsidiary will address through established legal procedures.

Rane Holdings Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. The certificate was filed with both BSE Limited and National Stock Exchange of India Limited on April 04, 2026, confirming the company's adherence to regulatory requirements for dematerialization activities.

Regulatory Compliance Details

The certificate addresses the dematerialization and rematerialization of securities during the quarter ended March 31, 2026. Rane Holdings has confirmed that all procedures were completed in accordance with SEBI regulations, with proper verification and record-keeping maintained throughout the process.

Key Confirmations

The company has certified two critical compliance aspects:

• Securities Listing: All securities comprised in the certificates have been listed on the stock exchanges where the company's earlier issued securities were listed
• Certificate Processing: The physical certificates have been mutilated and cancelled after due verification, with the depository's name substituted in the company's records as the registered owner within the stipulated time limit

Registrar Verification

Integrated Registry Management Services Private Limited, serving as Rane Holdings' registrar and share transfer agent, has provided independent confirmation of the compliance activities. The registrar confirmed that securities received from depository participants for dematerialization during the quarter were properly processed and that all procedures were completed within regulatory time limits.

Corporate Information

Rane Holdings Limited, with CIN L35999TN1936PLC002202, maintains its registered office at "Maithri", No. 132, Cathedral Road, Chennai - 600 086. The certificate was signed by Siva Chandrasekaran, Secretary of the company, ensuring proper authorization and compliance with corporate governance requirements.