Cummins India Limited , a leading manufacturer of engines and related technologies, has been hit with a customs penalty of Rs 1.43 crore over alleged import classification issues. The company plans to appeal the decision, maintaining that the penalty will not materially impact its financial or operational activities.

Penalty Details

The Office of the Principal Commissioner of Customs, Mumbai, issued an Order-In-Original (O-I-O) to Cummins India, imposing a total penalty of Rs 1,43,46,400. This amount consists of:

• Differential customs duty: Rs 71,73,200
• Penalty under Section 114A of the Customs Act, 1962: Rs 71,73,200

The penalty stems from allegations of incorrect classification of imported goods using wrong Harmonized System of Nomenclature (HSN) codes under the Customs Act, 1962.

Company's Response

Cummins India received the order on July 22 and promptly disclosed the information to the stock exchanges on July 25, in compliance with SEBI regulations. The company has stated its intention to file an appeal with the Customs Excise and Service Tax Appellate Tribunal (CESTAT), seeking withdrawal of both the demand and the penalty.

In its regulatory filing, Cummins India emphasized that the penalty "neither have any material impact on the financials of the Company nor have any impact on operational or other activity of the Company."

Upcoming Investor Communication

In a separate announcement, Cummins India has scheduled a conference call for analysts and investors on August 8, at 12:00 Noon IST. The call will follow the announcement of the company's unaudited financial results for the quarter ended June 30. Ms. Shveta Arya, Managing Director of Cummins India Limited, along with other members of the management team, will be present to address questions from participants.

Investors and analysts interested in participating in the conference call can access it through various international toll-free numbers or a universal dial-in number provided by the company.

As Cummins India navigates this regulatory challenge, stakeholders will be keenly watching the outcome of the appeal and its potential implications on the company's import practices and financial statements.

Cummins India Limited , a leading manufacturer of engines and related technologies, has announced a significant change in its top leadership. The company has appointed Ms. Soma Dilip Ghosh as its new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective July 21, 2025.

Board Approval and Appointment Process

The appointment of Ms. Ghosh was approved by the Board of Directors of Cummins India Limited in their meeting held on May 28, 2025. This decision came on the recommendation of the Nomination and Remuneration Committee and the Audit and Compliance Committee.

Transition in Financial Leadership

With Ms. Ghosh assuming her new role, Mr. Prasad Kulkarni, who had been serving as the Interim CFO and KMP, has stepped down from these positions. However, Mr. Kulkarni will continue to contribute to the company in his role as Director – Finance Controller Distribution Business Unit (DBU) - India.

Regulatory Compliance

In accordance with regulatory requirements, Cummins India Limited has made the necessary disclosures to the stock exchanges. The company has provided detailed information as mandated under Regulation 30 read with Schedule III Part A Para A of the SEBI Listing Regulations and SEBI Master Circular dated November 11, 2024.

Company Secretary's Confirmation

Ms. Vinaya A. Joshi, Company Secretary & Compliance Officer of Cummins India Limited, has officially communicated this change to the stock exchanges, ensuring transparency and compliance with regulatory norms.

This strategic appointment comes as Cummins India continues to strengthen its leadership team. Investors and stakeholders can find more detailed information about this appointment on the company's official website at www.cumminsindia.com .