Uno minda Limited has disclosed that its subsidiary Minda Westport Technologies Limited (MWTL) has received a customs order involving significant financial demands related to the classification of imported components used in CNG system manufacturing.

Customs Order Details

The Principal Commissioner of Customs (ICD Patparganj), New Delhi, issued an order regarding alleged CTH/HSN misclassification of imported components used in manufacturing parts for vehicle CNG systems. The order was received by MWTL on March 27, 2026 around 04:35 P.M. (IST).

Company Response and Impact Assessment

MWTL has expressed disagreement with the findings of the customs order and plans to file an appeal against the decision. The company maintains that the classification issues raised by the customs authority are not justified.

Financial and Operational Impact

Despite the substantial amount involved in the customs demand, Uno Minda Limited has stated that it does not foresee any material impact on its financial, operational, or other activities. This assessment suggests the company believes it has strong grounds for its appeal and expects a favorable outcome.

Regulatory Compliance

The disclosure was made under Sub-Para 20 of Para A of Part A of Schedule III of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The communication was signed by Tarun Kumar Srivastava, Company Secretary & Compliance Officer, and submitted to both NSE and BSE exchanges.

Background Context

The customs order specifically relates to components imported for manufacturing parts used in vehicle CNG systems, indicating the issue affects MWTL's core business operations in the clean energy automotive sector. The misclassification allegation suggests differences in opinion between the company and customs authorities regarding the appropriate tariff classification of these imported components.

Uno Minda Limited has completed the redemption of its Commercial Papers worth Rs. 100 crores on March 20, 2026, fulfilling its scheduled debt obligation as communicated to the stock exchanges.

Commercial Paper Details

The company had issued unlisted Commercial Papers with specific terms and maturity schedule. The redemption marks the successful completion of the short-term debt instrument cycle.

Regulatory Compliance

The redemption was communicated to both National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (LODR) Regulations, 2015. Company Secretary and Compliance Officer Tarun Kumar Srivastava signed the official communication, ensuring proper regulatory disclosure.

Timeline and Process

The Commercial Papers had a maturity period of approximately 42 days from the allotment date. The company had initially informed the exchanges about the issuance on February 06, 2026, and has now completed the redemption process as scheduled. This demonstrates the company's adherence to its debt servicing commitments and regulatory compliance requirements.

The successful redemption of these Commercial Papers reflects the company's financial discipline in managing short-term debt instruments and maintaining transparency with stakeholders through timely regulatory disclosures.